Costain and Siemens Mobility JV secures £300m HS2 systems contract

(Sharecast News) - Costain said on Thursday that its 50/50 joint venture with Siemens Mobility had secured a contract 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 around £300m to the JV, with optional contract extensions.

Costain said there's a separate maintenance contract following the design and build phase which will operate for seven years and is valued at £32m.

Earlier this month, Costain was awarded a contract as a sole supplier to deliver tunnel and lineside mechanical and electrical systems for HS2.

Chief executive Alex Vaughan 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."