REG - Costain Group PLC - Siemens and Costain JV wins HS2 Systems Contract

CostainAnnouncement

19/12/2024 07:00

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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.com

 Paul Sharma, Costain        +44 (0)7867 501188

 Financial media - Headland  costain@headlandconsultancy.com
 Andy Rivett-Carnac          +44 (0)7968 997365
 Charlie Twigg               +44 (0)7946 494568

 

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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