After the announcement that Costain is no longer involved in the A66 Trans-Pennine improvement works, the company has put out a statement setting out what it means for the business.

It has also confirmed that it will continue with work for National Highways on the A12 and A120 in Essex.

On Tuesday, the company announced that after talks with National Highways, they had agreed to “a change in contracting strategy which will see Costain’s involvement in the development phase of the A66 come to an organised and managed end” The project involves improving the road between the M6 at Penrith and A1(M) at Scotch Corner.

The statement reads:

Costain Group PLC has noted media reports regarding its involvement on the A66 project and the potential impact on Costain’s order book.

Due to a change in contracting strategy for the A66 only, we have agreed with National Highways that our involvement in the A66 scheme will come to an organised and managed end. Costain is one of four parties involved in the A66 and this project was included in our preferred bidder book and therefore this decision has no impact on the Group’s order book.

Costain takes a prudent view of its order book, and the overall value of its order book is broadly unchanged from £2.8bn as announced at our full year 2022 results on 14 March 2023.

Costain continues to bid on a number of significant projects across the Group.

Costain confirms that it will continue to work on the A12 Chelmsford to A120 widening project, supporting the delivery of the project’s development consent order application and delivering a package of enabling works for the scheme. We will continue to bring our innovation and expertise to other critically important National Highways projects.

The Board remains confident of delivering full year results in line with its expectations.

(Picture – National Highways)