Costain scoops Hammersmith Flyover contract worth £60m

 
Suzie Neuwirth
ENGINEERING group Costain yesterday announced that it has won a £60m contract to strengthen Hammersmith Flyover from Transport for London (TfL).

The contract is the first in a series of projects awarded to Costain and three other firms, set to run for four years and worth £200m in total.

Hammersmith Flyover closed in 2011 after structural damage, which turned out to be more severe than initially admitted to the public. TfL said that there was a remote possibility that the flyover would collapse.

The new contract will be a boon for Costain after its takeover bid for road maintenance group May Gurney was trumped by a rival offer from construction firm Kier in April.

The firm incurred £4m in costs from the failed merger.

“Costain is delighted to gain a place on TfL’s framework, and to commence work on the Hammersmith Flyover which is a technically challenging structure and an important part of London’s infrastructure,” said Andrew Wyllie, chief executive of Costain.

“This award further enhances Costain’s reputation for innovation and engineering expertise across the whole life cycle of an infrastructure asset, as well as our recognised commitment to providing our customers with certainty of delivery and cost within a collaborative working approach.”

Costain’s share price closed 0.6 per cent down at 254p yesterday.