Costain, Alstom, Babcock JV Gets GBP48 Million Network Rail Pact
January 09 2013 - 1:39AM
Dow Jones News
LONDON--Costain Group PLC (COST.LN), a U.K. engineering
solutions provider, said Wednesday it has been awarded a 48 million
pound contract with Network Rail for Phase Three of the West Coast
Power Supply Upgrade, which is part of a GBP300 million investment
by Network Rail in power upgrade.
MAIN FACTS:
-Project will be delivered by ABC Electrification, a joint
venture between Costain, Alstom SA (ALO.FR) and Babcock
International PLC (BAB.LN).
-Work will start in early 2013 and is expected to complete in
2016.
-Costain shares closed Tuesday at 256 pence valuing the company
at GBP167.79 million; Babcock shares closed at 989 pence valuing
the company at GBP3.56 billion.
-Write to Ian Walker at ian.walker@dowjones.com
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