COST.GB Costain Group PLC

TIDMCOST

RNS Number : 1436G

Costain Group PLC

17 July 2023

Costain Group PLC

17 July 2023

Costain Announces Key Contract Extension

United Utilities extends contract into next water regulatory cycle

Costain Group PLC ("Costain") announces that it has been appointed by United Utilities to work as its Managed Service Provider (MSP) for a further two years, from May 2024 to May 2026. This contract extension has an option to be extended for a further three years and builds on the original five-year MSP contract awarded in 2019. The award extends into the next regulatory cycle (AMP8 2025-2030).

United Utilities is the UK's largest listed water company and is working to ensure the resilience of its network to the effects of climate change, including improving the quality of its wastewater effluent and providing a reliable drinking water supply to its customers.

Since 2019, Costain has provided management and asset maintenance activities throughout the north-west at 96 water treatment sites, 575 wastewater treatment sites, pumping stations and service reservoirs which serve over seven million people.

The MSP framework consists of two types of work:

-- Core contract: This includes maintenance services of very high-volume, short-duration activities to more than 900 sites covering repair, replacement and refurbishment of equipment such as pumps. It also covers core projects which are of a greater scale and complexity, delivered as projects. Since the start of 2022, the MSP has developed solutions to 132 Core Projects including installation of a new mixer system within Wayoh Impounding Reservoir, Lancashire and an upgrade to existing gas holders at Manchester Bio-resource Centre (MBC) at Davyhulme Wastewater Treatment Works in Greater Manchester.

-- Non-core contract: This includes the delivery of larger capital projects such as the design and construction of remedial improvements to the Clough Bottom Impounding Reservoir in Lancashire and upgrades to the Audlem Wastewater Treatment Works in Cheshire.

Within the MSP Framework, Costain has delivered a wide range of activities and projects to date and made a significant contribution to United Utilities meeting key regulatory requirements.

Sam White, managing director of Natural Resources, Costain said:

"This is a strategically important contract for Costain. We've already delivered big improvements working together with United Utilities on the MSP Framework, leveraging increased automation of data processing and insights to enhance our service delivery. I'm delighted that we'll be continuing this relationship to help United Utilities ensure a sustainable, resilient and efficient service for its customers."

Enquiries

 
 Investors and analysts        paul.sharma@costain.com 
 Paul Sharma, Costain          +44 7867 501188 
 
 Financial media - Headland    costain@headlandconsultancy.com 
 Andy Rivett-Carnac            +44 (0) 7968 997 365 
 Charlie Twigg                 +44 (0) 7946 494 568 
 

Notes to editors

Costain helps to improve people's lives by creating connected, sustainable infrastructure that enables people and the planet to thrive. We shape, create and deliver pioneering solutions that transform the performance of the infrastructure ecosystem across the UK's transport, energy, water, and defence markets.

We are organised around our customers anticipating and solving their challenges and helping to improve performance. By bringing together our unique mix of construction, consulting and digital experts we engineer and deliver sustainable, efficient and practical solutions.

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.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

CNTGZGMNKKLGFZM

(END) Dow Jones Newswires

July 17, 2023 02:00 ET (06:00 GMT)

Costain (AQSE:COST.GB)
Gráfico Histórico do Ativo
De Dez 2024 até Jan 2025

Costain (AQSE:COST.GB)
Gráfico Histórico do Ativo
De Jan 2024 até Jan 2025