Siemens and Costain JV wins HS2 Systems Contract
Siemens-Costain JV wins HS2 high voltage power supply systems contract worth circa £300m.
- Contract value to JV £300m
- Maintenance contract value (7 years) £32m
Select text to share a quote on X · sign in to keep highlights & notes in your COST notes
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."
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.