BCKIY Babcock International Group PLC (PK)

LONDON--Costain Group PLC (COST.LN), a U.K. engineering solutions provider, said Wednesday it has been awarded a 48 million pound contract with Network Rail for Phase Three of the West Coast Power Supply Upgrade, which is part of a GBP300 million investment by Network Rail in power upgrade.

MAIN FACTS:

-Project will be delivered by ABC Electrification, a joint venture between Costain, Alstom SA (ALO.FR) and Babcock International PLC (BAB.LN).

-Work will start in early 2013 and is expected to complete in 2016.

-Costain shares closed Tuesday at 256 pence valuing the company at GBP167.79 million; Babcock shares closed at 989 pence valuing the company at GBP3.56 billion.

-Write to Ian Walker at ian.walker@dowjones.com

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