Costain Group PLC Siemens and Costain JV wins HS2 Systems Contract

RNS Number : 7357Q

Costain Group PLC

19 December 2024

 

 

 

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	[e-mail] [phone]
Financial media - Headland	[e-mail]
Andy Rivett-Carnac	[phone]
Charlie Twigg	[phone]

 

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.

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