Costain Secures £75m EDF Contract Extension, Partnership Extended to 2030

Costain Group PLC (LON: COST) has been awarded a significant five-year extension to its existing framework contract with EDF, solidifying its position as a key partner in the UK's nuclear power infrastructure.

The agreement, valued at £75 million over the contract period, ensures Costain will continue providing project controls services across EDF's eight nuclear power stations until 2030.

The extension of the Project Controls Resources Framework represents a continuation of a relationship that began in 2017.

Costain's work supports the safe operation, plant life extension, and preparations for the defueling and decommissioning of EDF's UK nuclear facilities.

The financial impact of this extension extends beyond the headline £75 million figure. The consistent revenue stream allows Costain to strategically allocate resources, invest in innovation, and potentially pursue further opportunities within the nuclear sector and other infrastructure projects.

This predictability also supports potential dividend payouts and other shareholder value initiatives, although specific details were not provided.

Alex Vaughan, chief executive officer of Costain, commented: “This extension is evidence of our successful strategy of developing long-term trusted partner relationships with critical infrastructure asset owners such as EDF. By ensuring the safety and efficiency of civil nuclear energy operations and decommissioning activities, we're helping to create a sustainable future that delivers local and national economic prosperity.”