Costain to build new bridge across River Thames

CONSTRUCTION firm Costain said today it had won a contract to build the first major road crossing over the River Thames in almost 20 years.

The firm said it had received the go-ahead from Surrey County Council to construct the bridge between Walton and Shepperton as part of a 32.3m scheme.

The Walton bridge is due to be completed in 2013 and will replace two temporary bridges in the area.

The government has agreed to contribute just under 23.9m to the project with the council providing a further 8.5m.

Shares in Costain closed Friday at 225 pence, valuing the business at 143m.

Earlier this month business services group Mouchel rejected an improved takeover approach worth about 148m from Costain.