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Local outfit takes multimillion double


MIDAS has beaten off competition for contracts worth £40 million in total with two big-spending clients.

The firm has around £30 million-worth of work coming up after signing a partnering contract with supermarket giant Tesco, which posted pre-tax profits of £2 billion in 2004 .

Devon-based Midas is expecting to take seven Tesco jobs across south-west England, which will involve extending three existing stores and building four new ones.

The first few jobs will be new builds in Tiverton and Ilfracombe in Devon, worth around £6 million each, and carrying out a £4 million extension to the retailer's store in Wadebridge, Cornwall.

Midas has also netted a £10 million deal to build a 143-bed hotel and conference centre for Canadian hotel chain Future Inns.

The development in Plymouth is the second hotel that the firm has been awarded by the client.Midas completed a £12 million scheme in Cardiff Bay last year.

The hotel chain plans a further four hotels in southern England and Wales by 2007.