Costain joint venture wins A14 scheme contract

The joint venture between engineering solution provider Costain Group and development group Skanska AB has been chosen as the preferred bidder to handle part of the A14 Cambridge to Huntingdon improvement scheme.

Highways England has awarded the joint venture the package covering the A1 junction at Alconbury to the East Coast Mainline and a separate package covering the area east of the East Coast Mainline to Swavesey.

The London-listed company said the two deals are worth a combined £600m.

"The A14 is a strategically vital transport corridor in East Anglia and we are delighted to have been appointed to this major improvement project by Highways England,” said group chief executive Anderw Wyllie.

Costain shares were up 1.24% to 346.00p at 08:15 on Wednesday.