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Costain joins £4.5bn road improvement project

The engineer was appointed as one of six partners in the Smart Motorway Programme Alliance

Costain Group - Costain joins £4.5bn road improvement project

Costain Group PLC (LON:COST) rose on Monday after revealing it was appointed as one of the six partners in the £4.5bn Smart Motorway Programme Alliance.

The 10-year project will add capacity and improve safety across England’s road network.

READ: Costain steams higher on green light for HS2 Euston tunnels contract

The engineer said it will apply, among other technologies, its Design for Manufacture and Assembly techniques, which allows to complete work off-site.

“Costain has been a long-term partner for Highways England delivering a broad mix of services from consultancy and digital technology solutions through to programme management and complex project delivery,” chief executive Alex Vaughan commented in a release.

Analysts at house broker Liberum said the contract win will add £1bn to the order book, "but this will only be as schemes are allocated over the period of the framework".

Shares advanced 4% to 82.32p on Monday at the opening bell.

--Adds analyst's comment, shares--

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