Costain Regulatory News (COST)

10 Jan 2005 07:00

Costain Group PLC10 January 2005 Costain Group PLC ("Costain" or the "Group") MAJOR PROJECT AWARD FOR CHINA HARBOUR-COSTAIN China Harbour-Costain*, an international 50-50 joint venture, has been awarded a$170 million contract by Sempra LNG's Energia Costa Azul to design and constructthe breakwater for a liquefied natural gas (LNG) receipt terminal at BajaCalifornia in Mexico. The 600m breakwater will serve to protect the receipt terminal's LNG off-loadingjetty. Commencing in January 2005 and lasting 35 months, construction of the breakwaterwill involve towing pre-cast concrete caissons which will then be sunk to sit ona prepared granular bed. In all, there will be 16 caissons, each being 36m inlength, 26m high and weighing about 9000 tonnes. There will also be 14,140pre-cast concrete armour blocks weighing up to 43 tonnes each, with rock/granular material of some 930,000 tonnes. At the peak of construction 800-1,000workers could be on site. The hiring of local, qualified workers will be apriority. "This is a significant contract award for the China Harbour-Costain jointventure," said Stuart Doughty, Costain Chief Executive. "We have a formidablecombination of expertise and experience and we are delighted to be involved insuch a prestigious global project. "It is testament to the strength of the joint-venture team that the ChinaHarbour-Costain construction methodology was judged by the client as the besttechnical and environmental solution. We defeated strong competition fromcountries such as the USA, France and Italy and have now established ChinaHarbour-Costain as a considerable force in the international market." 10 January 2005 Enquiries: Costain Group PLC Tel: 01628 842 444 Stuart Doughty, Chief Executive Charles McCole, Finance Director Graham Read, Public Relations College Hill Tel: 020 7457 2020 Mark Garraway Matthew Gregorowski * Note to Editors; China Harbour (CHEC), one of China's largest constructiongroups and Costain Group PLC, the international construction and civilengineering company, formed a global alliance in 2004 to pursue opportunities ininternational markets, specifically in the area of marine development and portconstruction. The complementary skills base of the CHEC and Costain Joint Venture makes it aglobal leader in marine works. CHEC has one of the largest marine fleets in theworld, whilst Costain has an international brand with high calibre civilengineering experience and a global reputation for quality. This information is provided by RNS The company news service from the London Stock Exchange