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Costain secures contract to design and build new M5 junction
(Sharecast News) - Construction engineering firm Costain has secured a contract to design and build a new junction on the M5, known as junction 22A. Costain said on Tuesday that the deal, awarded through the Regional Delivery Partnership framework, was expected to be worth around £100m to the group over five years.
The new junction, located in Somerset, will provide access to the Gravity Smart Campus and the £4bn gigafactory being developed by Agratas, set to become the UK's largest electric vehicle battery manufacturing facility.
Costain will act as delivery integration partner and main works contractor, overseeing design, engineering, programme delivery and supply‑chain management for the project.
Chief executive Alex Vaughan said: "This award is built on our long-established highways delivery expertise and trusted partner relationship with National Highways. We will work closely with our supply chain partners to design and deliver this new junction that will provide access to the new gigafactory and help to drive economic growth in this region of the UK."
As of 1000 GMT, Costain shares were up 0.66% at 174.54p.
Reporting by Iain Gilbert at Sharecast.com
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