Costain Group has announced that its contract to work as a managed-service provider for water company United Utilities has been extended for an additional two years, from May 2024 to May 2026. The contract also includes an option for a further three-year renewal.
The infrastructure company’s agreement with United Utilities now spans into the next water regulatory cycle. Since the original contract was awarded in 2019, Costain has been responsible for management and asset-maintenance activities across 96 water treatment sites, 575 wastewater treatment sites, pumping stations, and service reservoirs in north-west England. This extensive network serves over seven million people.
Sam White, Costain Natural Resources managing director, emphasized the significance of the contract extension: “This is a strategically important contract for Costain. We’ve already achieved significant improvements through our collaboration with United Utilities on the Managed-Service Provider Framework. By leveraging increased automation of data processing and insights, we have enhanced our service delivery.”
At 0743 GMT, Costain Group’s shares experienced a notable increase of 1.9 pence, or 4%, reaching 49.1 pence.