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Costain secures five-year extension to EDF contract
(Sharecast News) - Costain announced on Tuesday that it had secured a five-year extension to its long-running project controls contract with EDF, a deal worth £75m that would see the engineering group continue supporting operations across the French utility's eight UK nuclear power stations through to 2030. The London-listed company had worked with EDF since 2017 under the Project Controls Resources Framework, providing services to support the safe operation of the ageing reactor fleet, plant life-extension work and preparations for future defuelling and decommissioning.
It said the latest award renewed that mandate, and deepened the partnership as EDF moved further into the transition phase for several of its stations.
"This extension is evidence of our successful strategy of developing long-term trusted partner relationships with critical infrastructure asset owners such as EDF," said Costain chief executive officer chief executive Alex Vaughan.
"By ensuring the safety and efficiency of civil nuclear energy operations and decommissioning activities, we're helping to create a sustainable future that delivers local and national economic prosperity."
At 0945 GMT, shares in Costain Group were down 0.8% at 148.8p.
Reporting by Josh White for Sharecast.com.
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