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42-576: The Zimbabwean town of Kariba was built for construction workers on the lake's dam , while some other settlements such as Binga village and Mlibizi in Zimbabwe and Siavonga and Sinazongwe in Zambia have expanded to house people displaced by the damming of the river. Lake Kariba is over 223 kilometres (139 miles) long and up to 40 kilometres (25 miles) in width. It covers an area of 5,580 square kilometres (2,150 square miles) and its storage capacity

84-656: A 15% stake in the group. The rights issue was concluded in late May 2020, with ASGC becoming Costain's biggest shareholder. In September 2024, ASGC sold its shareholding in Costain to institutional investors for £38m. In March 2023, Costain announced - after three consecutive years of pre-tax losses - that its results for 2022 showed a pre-tax profit of £34.2m on revenue up 25% at £1,421m (2021: £1,135m). Costain's activities are organised into two operating divisions: Natural Resources (water, nuclear process and oil & gas) and Infrastructure (highways, rail and power). Costain

126-514: A construction boom in the Middle East ; profits increased from little more than £1m per year to £47m within a decade. During the 1980s, Costain invested its resources into coal mining, international housing and commercial property; however, both the housing and property markets, and thus the business, were heavily impacted by the early 1990s recession , which led to sell-offs and cutbacks, especially housebuilding, which reoriented Costain towards

168-413: A court ruling increasing Costain's liabilities on a Welsh road project caused the firm to cut its full year profit forecasts; its share price fell 19% in early trading. On 11 March 2020, Costain announced a £100m rights issue, aiming to strengthen its balance sheet after it suffered a £6.6m pre tax loss on revenues of £1.16 billion in 2019; the news sent Costain shares down 34%, with the plunge continuing

210-525: A dramatic low point in April 1995, the demise of Costain was incorrectly predicted by numerous British broadsheets . It was claimed that the company could not be expected to survive as an operating company by the end of the century. In 1995, Alan Lovell was appointed chief executive of Costain; the actions taken during his two year tenure, which included the sale of the company's property interests in London and

252-427: A marked drier season in the winter. Although it is relatively cooler than typical tropical places in the winter and does get occasional 5 °C (41 °F) lows, Kariba nevertheless meets the minimum requirements to be in the savanna climate zone, making it one of few locations in Zimbabwe within this classification. The city's low elevation by Zimbabwean standards, lakeside location, northern locality, and proximity to

294-615: A move that was condemned as a "PR stunt" by the GMB union , and described by the Scottish Affairs Select Committee as "an act of bad faith". In December 2017, trade union Unite announced it had issued High Court proceedings against twelve major contractors, including Costain. In April 2019, Costain was suspended from the UK Government's Prompt Payment Code , for failing to pay suppliers on time. It

336-460: A result, its population has stagnated to fewer than 30,000 inhabitants today. Another challenge to the town, is the increasingly outdated infrastructure, particularly Kariba Dam. Years of under-investment threaten the longevity of the dam and its ability to generate power, posing a challenge to the economies of Zambia and Zimbabwe. Kariba has a tropical savanna climate (Köppen climate classification Aw), with warm winters and very hot summers, and

378-527: A subject of controversy. It used to be a subscriber to the United Kingdom's Consulting Association , which was an illegal construction industry blacklist ; legal action was taken against the company in this matter during the 2010s. In 2019, Costain was suspended from the UK Government's Prompt Payment Code after failing to pay suppliers on time. The business was founded in 1865 when Richard Costain and his future brother-in-law, Richard Kneen, left

420-478: Is 185 cubic kilometres (44 cubic miles). The mean depth of the lake is 29 metres (95 feet); the maximum depth is 97 metres (318 feet). It is the world's largest man-made reservoir by volume , four times as large as the Three Gorges Dam . The enormous mass of water is believed to have caused induced seismicity in the seismically active region, including over 20 earthquakes of greater than 5 magnitude on

462-476: Is a British construction and engineering company headquartered in Maidenhead , England. It was established by Richard Costain and Richard Kneen in 1865, initially operating as builders in and around Lancashire . During the early 20th century, Costain expanded geographically, its main activities comprising housebuilding and mining. A separate London-based company was formed in 1923 by the Costain family and

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504-560: Is also involved in HS2 lots S1 and S2, working as part of joint venture, due to complete in 2031. Costain was revealed as a subscriber to the United Kingdom's Consulting Association , exposed in 2009 for operating an illegal construction industry blacklist . Subsequently, it was also one of the eight businesses that were involved in the launch in 2013 of the Construction Workers Compensation Scheme ,

546-555: Is located on Lake Kariba, a reservoir created by Kariba Dam on the Zambezi River . Kariba has three main suburbs: Mahombekombe, the older poorer lakeshore high density suburb, Nyamhunga the newer high density suburb and Kariba Heights, the wealthier hilltop suburb and location of the Operation Noah monument. As the name suggests the heights overlook the surrounding region and offer impressive views of Lake Kariba and

588-577: The Croydon area were developed in the middle of the 1920s. In 1929, William died: the other two brothers remained in Liverpool and William’s son, Richard Rylandes Costain, was sent to run the London company. Under him, Richard Costain & Sons expanded its housing building large estates all around London, the largest being a site for 7,500 homes in South Hornchurch , started in 1934. Perhaps

630-659: The Intertropical Convergence Zone shape its climate. Average winter high temperatures, from May to August, range from 24.7 to 26.8 °C (76.4 to 80.3 °F). July is the coolest month with an average daily temperature of 20.1 °C (68.2 °F). Low temperatures fall below 10 °C (50 °F) about 10–15 nights during the winter season, after the passage of cold fronts from the south east that may sometimes produce winter precipitation. Costain Group Costain Group plc

672-587: The Isle of Man and moved to Liverpool as jobbing builders. Their partnership lasted until 1888, at which point Richard Kneen left and Richard Costain's three sons (Richard, William and John) joined him. Costain gradually expanded through Lancashire ; by the outbreak of the First World War , it was building its presence in South Wales, where it built numerous houses for munitions workers. Following

714-458: The Richter scale . The lake has several islands , including Maaze Island , Mashape Island, Chete Island , Sekula , Sampa Karuma , Fothergill , Spurwing , Snake Island, Antelope Island, Bed Island , and Chikanka. During the filling-up phase of the lake, the water was high in nutrients coming from decomposing, inundated vegetation, creating a thick layer of fertile soil on land that became

756-453: The 2010s by drought. ZB Bank Limited , a commercial bank , maintains a branch in Kariba. In the twenty-first century, the town of Kariba faced many of the nation-wide problems brought on by the depressed national economy, including lack of foreign currency. The town had difficulty in revenue collection. As a result, its fleet did not receive proper maintenance nor replacements, which

798-576: The First World War, Costain began to develop housing estates in Liverpool on its own account, primarily to offer continuity of employment to its workforce. With housing sites in Liverpool in short supply, Richard Costain sent his son William down to London to find new sites. He purchased the Walton Heath Land Company, and in 1923, the separate business of Richard Costain & Sons was formed. Several executive estates in

840-528: The Zambezi river system, now thrive on the kapenta, which in turn encourages tourism . Both Zambia and Zimbabwe are now attempting to develop the tourism industry along their respective coasts of Lake Kariba. Fish eagles , cormorants and other water birds patrol the shorelines, as do large numbers of elephants and other big game species including lion, cheetah, leopard, buffalo and a myriad of smaller plains game species. The southern Matusadona National Park

882-553: The acceptance of a £73m refinancing arrangement that gave the Malaysian building group Intria a 40 percent stake in the business, have been credited with having saved Costain. On two occasions in 1996, the company had its shares suspended . During 1999, Brewer Gold Mine, an American subsidiary of Costain, abandoned a gold mine in South Carolina , which had been closed, and ceased performing its remediation duties. In

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924-484: The attractions in Kariba for the tourist are water-based. Fishing, game-viewing and house-boating are the most popular activities. Tourists also visit the Kariba Dam wall and local crocodile farms . The Zimbabwe Electricity Supply Authority ZESA employs workers in the hydroelectric power station . Kapenta fishing is also an important industry, though it was affected by the nation-wide fuel shortages, and in

966-487: The beginning of the 1970s. The substantially increased revenues that accrued to the oil producing states led to a construction boom in the Middle East during the 1970s. Costain was a major beneficiary, particularly in the Emirates , and within a decade profits increased from little more than £1m a year to £47m. In the 1960s, A. P. Costain became chairman, with Sir Robert Taylor as chief executive. During 1985, Costain

1008-590: The best known development of all was Dolphin Square , which was completed in 1937. During 1933, Richard Costain (the London-based business) was floated on the London Stock Exchange ; the Liverpool business was not part of the flotation. By then, Costain had completed over 4,000 houses in the London area, some at prices up to £4,000. Costain continued to expand its private housebuilding and it

1050-725: The company was on Heath Drive in Tadworth in Surrey, when Arthur Costain was the chairman. Throughout the Second World War , Costain undertook extensive military work, including the construction of Royal Ordnance Factories and airfields. One particular highlight of its wartime activities was serving as one of the contractors who built the Mulberry harbour units. Sir Richard Rylandes Costain CBE (20 November 1902 - 26 March 1966)

1092-688: The construction sector. Despite the company's fiscal difficulties, it (as part of the TransManche Link consortium) completed construction of the Channel Tunnel , which was at the time the most expensive construction project ever proposed at a final cost amounted to £9 billion (equivalent to £22.6 billion in 2023). Into the 21st century, it has worked on numerous complex civil engineering and commercial construction projects and has been involved in various Private Finance Initiative (PFI) schemes. Costain's operations have occasionally been

1134-633: The dam in the mid to late 1950s and was constructed by the contractor Costain . After the completion of the dam wall and the power station (Kariba South Power Station) quite a few impressive monuments were built in the early 1960s i.e. the Roman Catholic church located at the Kariba Heights (St. Barbara) and next to it the Pat McClean Theatre named after Patricia McClean a well known wealthy resident of Kariba Heights. Kariba

1176-606: The early years of the 21st century, Costain worked on the Channel Tunnel Rail Link , which included the modernisation of London St Pancras station to accept Eurostar trains, and on the Thameslink , and Crossrail projects in central London; on Crossrail, Costain's contracts included the Paddington and Bond Street stations (both with Skanska ), and the north east network upgrade. In 2010, Costain

1218-560: The end of the 1980s led to high gearing just as international markets were turning down; this circumstance was exacerbated by a disastrous explosion which killed ten people in 1989 at a Costain owned coal mine in the United States, for which the firm was fined $ 3.75m in February 1993. As a consequence of the early 1990s recession , the company incurred substantial losses that not only rapidly depleted its reserves but also compelled

1260-550: The following day, dropping below £1 to 88p. The company was also affected by the COVID-19 pandemic shutdown with major projects (amounting to a third of operating revenue) suspended. As a result, the board and senior leadership team agreed a 30% reduction in salaries and fees for up to three months, while also making other short term economies. Two months later, Dubai -based contractor ASGC Construction stated that it planned to invest £25m in Costain's £100m rights issue, giving it

1302-554: The impact of the country's crisis led to a decline in domestic tourism as much of the middle class , who were the mainstay of Kariba's tourism industry began to emigrate. In addition a lack of investment in the city's airport and infrastructure has seen the city fall behind to nearby destinations such as Livingstone and Victoria Falls, which offer easy access to Johannesburg , Dubai and London . Once ubiquitous, South African tourists increasingly prefer cheaper and more accessible destinations like Mauritius , Tofo Beach and Pemba . As

Lake Kariba - Misplaced Pages Continue

1344-418: The lake bed. As a result, the ecology of Lake Kariba is vibrant. A number of fish species have been introduced to the lake, notably the sardine -like kapenta (transported from Lake Tanganyika ), which now supports a thriving commercial fishery . Other inhabitants of Lake Kariba include Nile crocodiles and hippopotamuses . Gamefish , particularly tigerfish , which was among the indigenous species of

1386-546: The north-eastern end of Lake Kariba , near the Zambian border. According to the 2022 Population Census, the town had a population of 27,600. Located in the Zambezi Valley , Kariba is well known for its balmy climate and proximity to Lake Kariba , that draws in thousands of tourists all year round. The pre-colonial population of the area were Tonga . The town was established to house workers who were constructing

1428-474: The opposite lakeshore to the south. The town has road links connecting it to Harare and to the border of Zambia. It is serviced by Kariba Airport , and has ferry service to Victoria Falls via Mlibizi Fishing camp. Kariba town is the centre of the tourist industry for the Lake Kariba region. Kariba town provides accommodation in various hotels and lodges. There are two casinos in the town. Many of

1470-452: The sale of several key assets along with various cutbacks, particularly in its underperforming housebuilding division, that left Costain as a predominantly construction-oriented business. More fiscal strain came in the form of a combined charge of £160m that was incurred by a pair of rights issues that arose in 1991 and 1993. Nevertheless, some sectors, such as coal mining, continued to provide reliable work for Costain at this time. During

1512-521: Was floated on the London Stock Exchange ten years later. Shortly thereafter, Costain moved into civil engineering activities, such as its work on the Trans-Iranian Railway . During the Second World War , Costain helped build several Royal Ordnance Factories , airfields, and worked on the Mulberry harbour units. By the start of the 1970s, Costain was building around 1,000 houses per year. During this decade, it benefitted greatly from

1554-464: Was also true of its water and sewage system, which suffered chronic pump breakdowns. Kariba also continued to have a large number of unoccupied housing units, left over from the construction boom, units which generated no income. The restructuring of industry in the early nineties, followed by Zimbabwe economic crisis in the 2000s, greatly impacted Kariba's tourist potential. Many former visitors and residents were involved in trade and agriculture and

1596-472: Was chairman in the 1950s, the grandson of the founder. In the immediate post-war years, only small estate development was undertaken by the firm; it was not until the acquisition of Nottingham -based Rostance Group in 1962 that private housebuilding resumed on any scale. Further bolstered by the acquisition of the Blackpool firm R Fielding in 1969, Costain was building around 1,000 houses per year by

1638-510: Was described as "one of the largest speculative housebuilders and estate developers in this country before the war." Following the flotation, Costain moved into civil engineering. One such early undertaking in this area was on the Trans-Iranian Railway and then at Abadan, Iran for BP . Losses on the railway, on Beckton sewage works and the costs of Dolphin Square caused financial problems, and Costain had to look for alternative funds when Barclays withdrew its overdraft facilities. By 1939

1680-601: Was named Contractor of the Decade by New Civil Engineer . While led by Andrew Wyllie , the company's CEO from September 2005 to May 2019, Costain invested in technology and consultancy staff, which in March 2018 comprised a third (1,300) of the company's then 4,000 employees. Alex Vaughan succeeded Wyllie as CEO. During June 2019, a gloomy trading update following several delayed and cancelled projects contributed to Costain's share value declining over 35%. In December 2019,

1722-537: Was once a haven for black and white rhinoceros, but recent poaching activity has dramatically reduced their numbers. The portion of Lake Kariba which falls within Zimbabwe has been designated a recreational park within the Zimbabwe Parks and Wildlife Estate . Kariba, Zimbabwe Kariba is a resort town in Mashonaland West province , Zimbabwe , located close to the Kariba Dam at

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1764-481: Was part of the TransManche Link consortium that constructed the Channel Tunnel , which was at the time the most expensive construction project ever proposed, the final cost amounted to £9 billion (equivalent to £22.6 billion in 2023). During the 1980s, recognising that exceptional Middle East profits could not continue, Costain sought to redeploy its extensive cash balances into coal mining, international housing and commercial property. However, over expansion in

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