Source - LSE Regulatory
RNS Number : 9424S
Costain Group PLC
14 July 2020
 

 

14 July 2020

 

Costain Group PLC

 

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

 

Costain awarded £150 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 £150 million and is due to commence in August 2020 with delivery starting from 1st 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

Peter Hewer

 

Tel: 020 3128 8527

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 

 


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