29th Jul 2005 07:00
Costain Group PLC29 July 2005 Costain Group PLC ("Costain") Two Major PFI Scheme Awards Costain is pleased to announce that it has reached key milestones on two majorPFI schemes in the health and education sectors worth at least £116m. For the London Borough of Ealing, Costain has reached financial close on a £51mproject to design, build and operate the new Featherstone primary school and twosecondary schools and sports facilities at Acton High and Greenford HighSchools, as part of the Seafort consortium with King Sturge and NIB CapitalBank. Costain's design and build team have started on site, and completion ofthe primary school is anticipated in 2006 with the two secondary schools to becompleted in 2007. Costain, as part of the Arden Partnership with Alfred McAlpine, has also beenawarded Batch Partner status (preferred partner) for the Shires3 PFI Batch -consisting of Derbyshire Mental Health NHS Trust, East Lincolnshire Primary CareTrust and Leicestershire Partnership Trust. Costain will work with each of theBatch Trusts to bring the design, build and operate PFI projects to theirseparate financial closes by the Autumn of next year. The schemes have a capitalvalue of £65m and a number of additional schemes, which are subject to approval,could bring the capital value up to £150m. Costain will undertake the designand build and Alfred McAlpine will provide the facilities management. This isthe first NHS batched PFI scheme to reach Batch Partner status. Charles McCole, Costain Finance Director, said: "We are delighted to have been awarded these PFI projects in two of our keystrategic sectors. Costain is becoming a major player in the PFI market inareas in which we have significant expertise and experience. We have nowenjoyed recent contract successes across all of our divisions which demonstratesthe strength of our partnering approach to winning new work." 29 July 2005 Enquiries: Costain Group PLC Tel: 01628 842 444Charles McCole, Finance DirectorGraham Read, Public Relations College Hill Tel: 020 7457 2020Mark GarrawayMatthew Gregorowski This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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