Britain’s biggest high-speed rail infrastructure has been given the green light by the prime minister this month.
HS2 is expected to play a vital role in boosting the economy and construction sector, over the next 20 years, according to Boris Johnson.
The high-speed rail network will connect London, the West Midlands and Leeds, and involves an extensive amount of construction work in phase one with more than 300 bridges, seven viaducts and six new stations needed to be built.
The project will also require a large amount of construction and demolition work on areas that have existing housing estates built on the track routes.
It is one of England’s largest-ever infrastructure projects, with key contractors being selected to deliver the main civil works.
Our Director of Construction Asset Finance, Gary Burns, said:
“The decision to finally move forward with HS2 will give a welcome boost to the construction industry.
“The demand for construction workers and machinery will dramatically increase and this will hopefully have a knock-on effect to the smaller construction companies, as the large contracts are filtered down and sub-contractors appointed.
“This should see a growth in the sector, as well as the general economy and regional growth in the areas covered by HS2.”
Contractors are beginning to mobilise over the coming weeks once main civils works contracts are signed off for the route from London to Birmingham.
As of March 2019, £7.4bn has been spent including the purchase of land and property and preparatory work at 250 locations, with 66% of the land required to build Phase 1 now purchased.
It is estimated that services on the full network, including Phase 2, will open between 2036 and 2040, where further construction work will be needed.
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