Costain Group PLC (LSE:COST) shares were little moved by news that it will be one of three contractors working for Transport for London to improve infrastructure, where it will be up for a share of roughly £700 million.
Projects under the framework will be awarded over a two-year term, with an option of a two-year extension.
Work will include design, engineering, programme delivery and supply chain management on major infrastructure projects suchg as upgrading South Kensington tube station, and enabling step-free access at more stations.
Costain flagged that it has a 25-year relationship with TfL, including refurbishment of the A40 Westway and Brent Cross Interchange.
Costain CEO Alex Vaughan said: "We are a trusted, long-term partner of Transport for London, and our growing relationship with this important customer is testament to our proven track record in delivering best-in-class infrastructure services across the capital.
"Upgrading London's transport network is critical for a more prosperous, resilient, and decarbonised UK. We look forward to bringing our capabilities in engineering, design and construction to deliver high-impact projects on time and on budget, underpinning London's growth for future generations."
Costain shares rose 0.5% to 193.6p on Tuesday morning, having advanced over 22% so far in 2026 and 55% over the past 12 months.