LONDON--Engineering solutions provider Costain Group PLC
(COST.LN), said Wednesday that its Joint Venture, ABC
Electrification Ltd, has been appointed by Network Rail as one of
four suppliers to the National Electrification Program.
MAIN FACTS:
-The contract is valued at an initial 900 million pounds to the
JV under a seven year term, extendable by a further three
years.
-ABC Electrification Ltd is an equal share JV comprising Alstom,
Babcock and Costain.
-The JV has been awarded two out of the six geographical areas
within the program: London North West (South) region and the Wales
and West region.
-The National Electrification Program will deliver
electrification to more than two thousand miles of the U.K.'s rail
system.
-Costain Group shares closed Tuesday at 305 pence, valuing the
company at GBP203.8 million.
-Write to Razak Musah Baba at razak.baba@wsj.com; Twitter:
@Raztweet
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