Costain secures Lewisham BSF

RNS Number : 2304R

Costain Group PLC

18 August 2010

 



Costain Group PLC
("Costain" or "the Company")

Costain secures financial close on Lewisham BSF school rebuild contract

Costain has been appointed by Lewisham Council to rebuild Deptford Green School after financial close was reached on the £28.6 million Building Schools for the Future ('BSF') project. The school is to be delivered under the Private Finance Initiative by Learning21, a consortium that includes Costain, Babcock International and Building Schools for the Future Investments LLP. Funding is to be provided by Aviva Commercial Finance Limited.

Thirteen hundred pupils, teachers and staff will move into their new school in September 2012, and local residents and community organisations will be able to access the brand new sports and conference facilities outside normal school hours. This means that the new building, like other schools in the borough, will become a key resource for the local community.

This latest contract is an integral part of Lewisham Council's Building Schools for the Future (BSF) programme, which has already delivered two new schools, has another school under construction and a number of new and refurbished schools progressing towards financial close.

Commenting on the award, Andrew Wyllie, the Chief Executive of Costain, said:

"We are delighted to be involved in this BSF contract and our continued involvement with Lewisham Council which, through our Local Education Partnership, aims to further improve education provision in the Lewisham area."

18 August 2010

Enquiries:

Costain Group PLC	Tel: [phone]
Graham Read, Communications Director
College Hill	Tel: [phone]
Mark Garraway
Adam Aljewicz

Notes to Editors

Costain is one of the UK's leading construction and engineering companies and is currently at the forefront of the drive to develop and improve the nation's infrastructure.

In its targeted sectors, Costain is playing a major role in the provision of new facilities for a range of sectors ranging from waste to transport. The Company's strategy is entitled 'Choosing Costain'  and everyone in the organisation is committed to making Costain the automatic choice in terms of both business and technical excellence.

Costain's origins date back to 1865. Since then the Company has featured in some of the world's major construction projects including the Channel Tunnel. Now the Company focuses on specific sectors within three divisions: Infrastructure - Highways, Rail, Airports and Nuclear sectors; Environment - Water, Waste, Marine and Education sectors; Energy & Process - Nuclear Process, Power and Hydrocarbons & Chemicals sectors.

Costain currently has a strong order book. Significant contract awards include the £397 million contract (design, construction and commissioning of 44 different facilities) for the Greater Manchester Waste Disposal Authority. In addition, Costain has won (as part of the 4D consortium) a £225 million contract with Southern Water to manage the design and build of a new wastewater treatment works in the Brighton and Hove area. Costain is also heavily involved in the Nuclear sector and in the Summer 2009 announced the award of a £297 million contract for full Engineering, Procurement, Construction and Inactive Commissioning of the Evaporator D project at Sellafield.

The Company's status was underlined at the Construction News 2009 Quality Awards when Costain won the Supreme Award for best overall performance. More recently, the Company was named 'Contractor of the Decade' by New Civil Engineer at the magazine's annual awards in London in August 2010.

For further information please visit : http://www.costain.com/

 

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