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Costain JVs win £315 million Crossrail contracts

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(Globalpost/GlobalPost)

LONDON (Reuters) - Two joint ventures led by British construction firm Costain Plc <COSG.L> have won Crossrail contracts worth a total of 315 million pounds.

The first joint venture, which includes French firms Alstom <ALSO.PA> and TSO, won a contract worth approximately 300 million pounds to design, fit-out and commission the railway systems in Crossrail's tunnel network, Costain said on Monday.

The second, a separate joint venture with Alstom, was awarded a 15 million pound contract to design, build and commission the system that will provide traction power for the trains in the central tunnelled section of the Crossrail scheme.

The 16 billion pound Crossrail scheme, which will join up east and west London, is Europe's biggest infrastructure project and is set to open in 2018. It is part-funded by city and national authorities, and some private funding.

Costain, which builds and maintains highways, rail stations and airports, reported in early March a 16 percent rise in full-year adjusted profit.

(Reporting By Dasha Afanasieva, Editing by Brenda Goh)

http://www.globalpost.com/dispatch/news/thomson-reuters/130415/costain-jvs-win-315-million-crossrail-contracts