Costain has moved into a new office in Aberdeen as a response to the group’sgrowing customer base in the energy sector.
The Neo House development, in Riverside Drive, will be used primarily to service engineering, energy resilience, and energy transition projects in Scotland as well as across the UK.
Costain recently reported a substantial boost in the sum of its order book, now valued at £5.4 billion (FY2023: £3.9 billion), following growth across several of its key market sectors including Water and Rail.
In December last year, a joint venture between Costain and Siemens Mobility was awarded a £300 million long-term contract to deliver high-voltage power supply systems for the entire 225-km route of HS2.
Consultancy Services also saw growth following the Front-End Engineering Design (FEED) contract for the bp joint ventures Net Zero Teesside Power and the Northern Endurance Partnership, as well as a second hydrogen FEED contract.
“We’re hugely excited to be moving into a modern, inclusive workspace that can cater to our growing pipeline of business in Scotland and across the UK,” said Laura Hughes, sector director, energy, at Costain.
“We have a long and successful track record in the region, from conceptual studies through to complex delivery, and Aberdeen is a key part of our investment in the future of our energy sector and engineering capabilities.”
In February last year, Costain announced the relocation of the company’s headquarters to a new head office in the City of London, after vacating its other Maidenhead and London offices.
Group adjusted operating profit for FY2024 is expected to be between £41.9 million and £43.3 million, with net cash of £160 million at the end of the year.
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