Thursday, Costain Group (COST.L), said it secured GBP80 Million retail contract from Standard Life Investments to construct new high quality retail led mixed-use development in Parkway, Newbury, West Berkshire.
The works are due to start on September 29 and expected to be completed in 2010. The contract is part of an extensive regeneration project for the town centre.
The deal includes demolition of existing buildings and the construction of a major mixed use retail development. Two level basement car park and new linkages between Northbrook Street and Victoria Street at ground level will be completed as part of the contract.
Commenting on the deal, Andrew Wyllie, chief executive of costain, said: "This contract is further evidence of our targeted strategy delivering important major new contracts, and we are delighted to add Standard Life Investments to our growing list of blue-chip customers."
COST.L is currently trading at 26.91 pence, up 0.41 pence or 1.55% on a volume of 96K shares.
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