Buyer · High-speed rail SPV
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High Speed Two (HS2) Limited
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- Type
- High-speed rail SPV — DfT-owned company delivering HS2 Euston–West Midlands
- Market · Region
- United Kingdom · England
- Open tenders
- 0
- Technology areas
- Track & civil, Signalling & train control, Rolling-stock hardware, Digital operations, Cybersecurity
Delivers HS2 high-speed line; programme reset since 2025; opening windows from 2036.
About this buyer
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Delivers the HS2 high-speed line from Euston to the West Midlands; programme reset since 2025 with cost to complete estimated at £87.7–102.7bn and opening windows from 2036.
- Type
- High-speed rail SPV — DfT-owned company delivering HS2 Euston–West Midlands
- Where
- England
- Programmes
- HS2
- Technology areas
- Track & civil, Signalling & train control, Rolling-stock hardware, Digital operations, Cybersecurity
Structure
Who holds what here
- awarded Costain — SCS JV (34%); tunnel and lineside M&E systems (≥, from Q1 2025); HV power supply JV with Siemens Mobility (active · since 2025)
- awarded Siemens Mobility — High-voltage rail systems power supply — Siemens Mobility/Costain JV, whole 225 km route (active · since 2024)
- awarded Balfour Beatty — Balfour Beatty VINCI main works West Midlands; Balfour Beatty VINCI SYSTRA — Old Oak Common station (active)
- awarded VINCI — Balfour Beatty VINCI main works; BBVS Old Oak Common (42%) (active)
- awarded SYSTRA — BBVS Old Oak Common station (16%) (active)
- awarded Skanska — London tunnels and approaches — Skanska Costain STRABAG JV (Skanska share) (active)
- awarded Mace — Euston station construction partner — Mace Dragados JV (active)
- awarded Dragados — Euston station construction partner — Mace Dragados JV (active)
- Contract detail and values (3)over $1bnIn the United Kingdom edition See a fully open example
Sources for these relationships (7)
- ● Balfour Beatty · Balfour Beatty VINCI SYSTRA awarded HS2 construction contract for c.£1bn Old Oak Common station (checked 2026-09-06)
- ● Costain · Costain wins major HS2 rail systems tunnel and lineside M&E contract (£400m minimum) (published 2024 · checked 2026-09-06)
- ● Costain · Siemens Mobility and Costain JV wins HS2 high-voltage power supply contract (published 2024 · checked 2026-09-06)
- ● UK Government · High Speed Two (HS2) Limited — organisation page (checked 2026-09-06)
- ● Mace Group · HS2 Euston station (Mace Dragados JV) (checked 2026-09-06)
- ● Office of Rail and Road · Our functions (checked 2026-09-06)
- ● Skanska UK · HS2 Main Works (Skanska Costain STRABAG JV, 34/34/32) (checked 2026-09-06)
Tenders
| Tender | Status | Value band | Next key date |
|---|---|---|---|
| HS2 Phase 1 residual-works framework | Planned | over $1bn |
2 sources · all primary
- ● HS2 Ltd · hs2.org.uk (published 2026 · checked 2026-09-05)
- ● Department for Transport (GOV.UK) · HS2 Phase 1: decision to continue delivery following programme reset — Accounting Officer Assessment summary (published 2026-05-19 · checked 2026-09-05)
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