Costain CE explains Hinkley Point C position

Following on from the news that Balfour Beatty will be undertaking the Tunnelling and Marine Contract at the UK’s Hinkley Point C nuclear power station instead of Costain – the contractor who had been working on the contract since 2013 – Costain Chief Executive Andrew Wylie has explained the situation in the company’s ‘Results for the half year ended 30 June 2017 report. He said:

“Costain continues to play an important role in nuclear new-build and decommissioning, ensuring security of supply of new nuclear power, a vital component of the UK’s commitment to reducing carbon gas emissions.

“As part of the upgrade programme of the country’s existing nuclear power station fleet, Costain successfully secured and has mobilised a framework to deliver project controls services for investment delivery at all EDF nuclear stations in the UK.

“Costain continues to undertake a number of enabling works contracts at Hinkley Point C. However, the Group will cease its involvement in the marine works contract at Hinkley Point C following completion of a further circa £20 million of existing obligations, anticipated to be concluded by the end of December 2017. Since Costain announced its initial appointment in October 2013, there was a significant delay in the approval for Hinkley Point C. While Costain has worked closely with EDF through the £40 million of early contractor involvement phase to date, it was not possible to reach agreement on the final terms and conditions for the overall completion of the works.”

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