Group announces schools joint venture with VT Group and confirms exit from Nigeria
Costain has been appointed preferred bidder on a 拢400m 黑洞社区 Schools for the Future PFI project in Lewisham, south east London. In joint venture with VT Group, Costain will refurbish 12 secondary schools, including three special needs schools in the London borough.
Costain will be responsible for construction work, whereas VT Group will carry out ICT, support services and facilities management work.
Work is scheduled for completion in 2013. Lewisham is Costain鈥檚 second BSF win, after reaching financial close in Bradford in December.
Costain also announced today that it has fully exited its operations in Nigeria, West Africa. The move follows Costain鈥檚 announcement in June that it was closing its international division.
It has sold all of its interests in Nigeria, including its minority interest in Costain (West Africa) PLC, which it has sold to Shoreline Energy International.
Costain鈥檚 chief executive Andrew Wyllie said: 鈥淭he group鈥檚 activities in the region are not within our core areas of activity.鈥�
Costain鈥檚 annual results are due to be published tomorrow.
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