Costain to build new bridge across River Thames

LONDON (Reuters) - Construction firm Costain said on Monday 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 32.3 million pound 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 23.9 million pounds to the project with the council providing a further 8.5 million pounds.

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

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

(Reporting by James Davey; editing by Rhys Jones)