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(Alliance News) - Costain Group PLC on Monday said its management and asset maintenance deal with United Utilities PLC has been extended for a further two years.
The Berkshire, England-based construction and engineering firm said it will now serve as United Utilities's managed service provider until May 2026, with the option to extend the pact up to another three years in due course. Costain did not provide financial details for this deal.
Since 2019, Costain and the Warrington, England-based water supply company, have been in partnership. The initial five-year deal was worth GBP35 million.
Costain's managing director of Natural Resources, Sam White, 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."
Shares in Costain were up 3.0% at 48.65 pence each in London on Monday midday, while United Utilities's were up 1.1% at 961.70 pence each.
By Sabrina Penty; Alliance News reporter
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