Costain Group PLC Costain awarded Cadent contract (9424S)
14 Julio 2020 - 04:30AM
UK Regulatory
TIDMCOST
RNS Number : 9424S
Costain Group PLC
14 July 2020
14 July 2020
Costain Group PLC
("Costain" or "the Group" or "the Company")
Costain awarded GBP150 million programme management consultancy
contract with Cadent
Costain, the smart infrastructure solutions company, announces
it has secured a 10 year programme management consultancy contract
for Cadent's East of England gas distribution network upgrade. The
contract is valued in excess of GBP150 million and is due to
commence in August 2020 with delivery starting from 1(st) April
2021. Cadent is the UK's largest gas distribution network managing
more than 80,000 miles of pipes and transporting gas to 11 million
customers. Its East of England network is the largest of Cadent's
four gas networks spanning East Anglia and East Midlands and from
North London to Sheffield.
Central to Costain's role will be the strategic planning and
programme management of Cadent's capital investment programme, with
a focus on delivering improved regulatory performance and future
proofing the network for the benefit of Cadent's customers. Costain
is bringing together its expertise in asset optimisation, digital
systems and complex delivery as a leading consultancy offering in
order to achieve Cadent's core objectives including:
-- Enhancing a resilient network where safety remains the top priority
-- Ensuring a positive experience for all customers,
stakeholders and communities, from minimising disruption to
supporting vulnerable customers
-- Delivering a programme to enhanced productivity targets
-- Improving the environment and tackling climate change
-- Building trust in communities through transparency and active
engagement to leave a positive, lasting legacy
Costain is the Construction Management Organisation ("CMO") with
responsibility for management of the capital replacement and
upgrade programme to be undertaken by Cadent's supply chain and
direct workforce.
This contract builds on the established partnership Costain has
with Cadent as one of its partners overseeing the HS2 gas main
diversions and as a strategic partner in the transition to the
decarbonisation of energy networks including the hydrogen economy
through the North West Hydrogen Alliance, and the OptiNet project
to research gas compression technology.
Alex Vaughan, CEO, commented:
"We are delighted to be working with Cadent as their programme
manager over the next 10 years leading the delivery of an effective
and efficient investment programme and one which crucially puts
customers, stakeholders and the environment front and centre. This
is further demonstration that bringing together our expertise in
asset optimisation, digital performance optimisation and programme
delivery from across our business ensures that we can best deliver
our client's business objectives. We look forward to working with
Cadent and all of their local delivery partners."
Ends
Enquiries:
Costain Tel: 01628 842444
Alex Vaughan, Chief Executive Officer
Tony Bickerstaff, Chief Financial
Officer
Carolyn Rich, Investor Relations
Director
Sara Lipscombe, Group Communications
Director
MHP Communications Costain@mhpc.com
Tim Rowntree Tel: 020 3128 8527
Peter Hewer Tel: 07709 326 261
Notes to Editors
Costain helps to improve people's lives with integrated, leading
edge, smart infrastructure solutions across the UK's
transportation, water, energy and defence markets. We help our
clients improve their business performance by increasing capacity,
improving customer service, safeguarding security, enhancing
resilience, decarbonising and delivering increased efficiency. Our
vision is to be the UK's leading smart infrastructure solutions
company. We will achieve this by focusing on blue chip clients
whose major spending plans are underpinned by strategic national
needs, regulatory commitments, legislation or essential performance
requirements. We offer our clients leading edge solutions that are
digitally optimised through the following five services which cover
the whole lifecycle of their assets: future-shaping strategic
consultancy; consultancy and advisory; digital technology
solutions; asset optimisation and complex programme delivery. Our
culture and values underpin everything we do.
For more information visit www.costain.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
CNTEANXLFFDEEEA
(END) Dow Jones Newswires
July 14, 2020 05:30 ET (09:30 GMT)
Costain (LSE:COST)
Gráfica de Acción Histórica
De Feb 2024 a Mar 2024
Costain (LSE:COST)
Gráfica de Acción Histórica
De Mar 2023 a Mar 2024