Skanska, as part of the Skanska Costain STRABAG joint venture, has been awarded an additional GBP 103M, about SEK 1.3 billion, 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 second 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 1.3 billion, about SEK 16.6 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. They will construct 8 kilometers (5 miles) of the 13.5-kilometer (8.4 mile) twin bored Northolt Tunnel. Two further TBMs have been received in the UK and will be launched in the next year from Victoria Road Crossover Box. A third TBM is currently 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.