19 December
2024
Siemens Mobility and Costain Joint
Venture Wins HS2 Systems Contract
New
contract to deliver high voltage power supply systems
Costain Group PLC ("Costain" or the
"Group") today announces that a Siemens
Mobility and Costain Limited 50/50 Joint Venture is the successful
bidder for a contract, to be signed in due
course, to deliver high voltage power
supply systems for the HS2 project throughout the 225km route from
Birmingham to London.
The contract is expected to be worth
in the region of £300m to the joint venture, with optional contract
extensions. There is a separate maintenance contract following the
design and build phase which will operate for seven years and is
valued at £32m for the joint venture.
This win is in addition to the
announcement of 4 December 2024, whereby Costain is to be awarded a
contract as a sole supplier to deliver
tunnel and lineside mechanical and electrical systems for
HS2.
Alex Vaughan,
CEO of Costain, said:
"This contract marks the start of a new
partnership with Siemens Mobility and its team of experts who share
our values and ambitions. Providing a safe, reliable power system
will be critical to the success of HS2, with rail electrification a
crucial part of the UK's decarbonisation plans."
Enquiries:
|
Investors and
analysts
Paul Sharma, Costain
|
paul.sharma@costain.com
+44 (0)7867 501188
|
|
Financial
media - Headland
|
costain@headlandconsultancy.com
|
|
Andy Rivett-Carnac
|
+44 (0)7968 997365
|
|
Charlie Twigg
|
+44 (0)7946 494568
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Notes to
editors
Costain helps to improve people's lives by
creating connected, sustainable infrastructure that enables people
and the planet to thrive. We shape, create and deliver pioneering
solutions that transform the performance of the infrastructure
ecosystem across the UK's transport, energy, water, and defence
markets.
We are organised around our customers,
anticipating and solving their challenges and helping to improve
performance. By bringing together our unique mix of construction,
consulting and digital experts we engineer and deliver sustainable,
efficient and practical solutions.
