LONDON (ShareCast) - (Sharecast News) - Infrastructure solutions provider Costain has been awarded a place on 'Lot 1' of the capital delivery framework by Severn Trent Water, it announced on Wednesday, as part of the delivery of Severn Trent's £2bn capital programme for the regulator 'Asset Management Period 7' (AMP7).
The London-listed firm said that under the contract, it would bring together its design, construction and consultancy expertise to undertake renewal and refurbishment projects and the detailed design and build of capital projects.

As part of the 'capital delivery design and build frameworks' lot, Costain said it would look to assist Severn Trent in its target to make continuous improvements to its safety performance, while ensuring continuity of supply and consequently lowering costs of its customers.

The contract built on Costain's involvement in Severn Trent's AMP6 programme through to AMP7, and would be worth £250m to the group over the five year period.

Costain said the contract would begin in April, and would run from 2020 to 2025, with potential to extend the contract for a further 36 months.

The group said it continued to be involved in a "wide range" of tendering activity across the water sector in anticipation of AMP7.

"We're delighted to have secured a place on the capital delivery framework and is testament to our track record of performance on AMP6 for efficient and safe delivery," said Costain chief executive Andrew Wyllie.

"On this framework we will provide technology-led solutions to help Severn Trent as they commit significant investment to ensuring the provision of a resilient water future for households and businesses in the Midlands and mid-Wales."

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