(Alliance News) - Infrastructure services firm Costain Group PLC said Monday it has been awarded several new highway contracts in the prior quarter, with an aggregate value of over GBP150 million.
Among the contract wins, Costain has been awarded a major project by Lancashire County Council, in which the company will deliver the Preston Western Distributor Road project.
The project includes work on the East-West Link road and Cottam Link road, which is expected to improve the capacity and connectivity of the region's strategic road network, as well as improve connections to residential areas, Costain said.
The delivery phase of the project started in October, and is expected to be completed in early 2023.
In addition, Costain has been awarded a contract by the UK government's Highways England, to install highways technology within three areas in the South East of England.
The new technology is expected to help with the management of traffic on the trunk road and motorway network.
"We're at the forefront of this exciting sector, helping our clients shape the UK transportation landscape. An increasing number of companies are looking for consultancy and digital technology expertise, alongside complex programme capabilities, in the delivery of vital projects to support our highways network," said Chief Executive Officer Alex Vaughan.
Shares in Costain - which is headquartered in Maidenhead, Berkshire - were up 1.0% at 174.03 pence in London on Monday.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Costain (COST)