Skanska’s Joint Venture Awarded Additional GBP 71 Million for HS2 High-Speed Railway Project in the UK

(IN BRIEF) Skanska, as part of the Skanska Costain STRABAG joint venture, has been granted an additional GBP 71 million (approximately SEK 940 million) under their existing contract with HS2 Ltd for phase one of the high-speed railway project in the UK. This increase in funding, related to planned and agreed changes in the scope of work, brings the total value of the contract to approximately GBP 1.4 billion (about SEK 18.5 billion). The project involves designing and constructing major tunnels in the southern section of the railway. Significant progress has already been made since receiving the notice to proceed in April 2020, with tunnel boring machines (TBMs) operational and additional TBMs expected to launch in the coming year.

(PRESS RELEASE) STOCKHOLM, 16-Dec-2023 — /EuropaWire/ — Skanska, as part of the Skanska Costain STRABAG joint venture, has been allocated an additional GBP 71M, about SEK 940M, under the existing contract with HS2 Ltd towards works on phase one of the new high-speed railway in the UK. This will be included in the order bookings for Europe in the fourth quarter of 2023.

The award relates to planned and agreed changes to the scope of works under the contract.

The total contract, now valued at approximately GBP 1.4 billion, about SEK 18.5 billion, to Skanska, involves the design and construction of major tunnels in the southern section of the overall project.

Since being given notice to proceed by HS2 Ltd in April 2020, significant progress has been made. Two tunnel boring machines (TBMs) started operations in late 2022 from West Ruislip Portal towards Green Park Way – to date completing around 2.9km of their 8km journey. Two further TBMs have been received in the UK and will be launched early in the next year from Victoria Road Crossover Box. A third TBM is in operation from Atlas Road, constructing a logistics tunnel between Old Oak Common station site and the Atlas Road site. The preparation works for the launch of the two final TBMs from the Old Oak Common Box towards Euston will begin in 2024.

This and previous releases can also be found at www.skanska.com.

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SOURCE: Skanska Group