Skanska, as part of the Skanska Costain STRABAG joint venture (JV), has been awarded an additional £71m ($89.95m) for the first phase works of the UK’s High Speed Two (HS2) project.
The funding comes under the existing contract with HS2 for works on the first phase of the new railway project.
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The scope of the contract includes the design and development of tunnels in the project’s southern segment.
The major tunnels will be built in the approach to the London terminus at Euston station of the phase one route.
The JV is delivering the route of length just over 26km and covers two 21km-long and up to 50m-deep tunnels running from the London terminus to West Ruislip.
HS2 granted the go-ahead for the project in April 2020, and significant progress has been achieved since then.
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By GlobalDataTwo tunnel boring machines (TBMs) began operations in late 2022 from West Ruislip Portal to Green Park Way, completing approximately 2.9km of the total 8km path.
Two additional TBMs were delivered in the UK and will be launched from Victoria Road Crossover Box early next year.
A third TBM is currently operating from Atlas Road to build a logistical tunnel between the Old Oak Common station and the Atlas Road site.
Preparation works for the launch of the two last TBMs from the Old Oak Common Box to Euston will commence next year.
The project will be entered into Skanska’s Europe order bookings for the fourth quarter of this year.
The overall value of this contract is now valued at £1.4bn to Skanska.
Skanska owns 34% of this JV while Costain and Strabag own 34% and 32%, respectively.
Additionally, the JV is researching and implementing solutions that minimise carbon emissions while simultaneously delivering larger social benefits such as cost savings, increased safety, and faster delivery.
