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Pin to quick picksCostain Share News (COST)

Share Price Information for Costain (COST)

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Share Price: 80.80
Bid: 80.60
Ask: 81.80
Change: 0.00 (0.00%)
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Britain says construction work can begin on HS2 rail project

Wed, 15th Apr 2020 07:43

LONDON, April 15 (Reuters) - Britain has given the green
light for companies to start putting spades in the ground to
build a new high speed rail line, saying that work could proceed
in line with coronavirus safety guidelines despite the national
lockdown.

Prime Minister Boris Johnson announced in February that the
line, known as HS2 which connects London to northern England,
would go ahead.

The government on Wednesday issued formal notification to
the companies tasked with construction, allowing them to start
work and providing them and their suppliers with business at a
time when the pandemic has caused the economy to grind to a
halt.

"This next step provides thousands of construction workers
and businesses across the country with certainty at a time when
they need it, and means that work can truly begin," HS2 minister
Andrew Stephenson said.

Companies with HS2 contracts include Skanska Construction UK
, Costain, Sir Robert McAlpine, Eiffage Genie
Civil, Kier, Balfour Beatty and VINCI
.

Companies will need to follow Public Health England's
guidance on social distancing at construction sites during the
coronavirus outbreak, the Department for Transport said in its
statement.

Some preparatory work for HS2 has already started, such as
clearing land and demolishing buildings, but to date, no tracks
have been laid.

In approving HS2, Johnson, defied critics who said it was
overbudget and not necessary, showing his willingness to invest
in infrastructure.

He said HS2 would slash journey times and add capacity to
Britain's crowded rail network, and help with his plan to "level
up" the country by investing in transport links outside London.
(Reporting by Sarah Young; editing by James Davey)

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