HS2 main civil works costs are £1bn over budget | City A.M.
Costs for main civil works on the government’s controversial High Speed 2 (HS2) project are coming in £1bn over budget.
HS2 currently has a target for construction costs of £6.6bn, while its overall budget for the project is £56bn.
The New Civil Engineer has reported that interim costs submitted by contractors are currently above the target price by about £1.2bn, with some being told to re-evaluate costs and report back to HS2 with reduced figures.
If the contractors come in at £6.6bn or under HS2 will share the savings with them.
Contractors include Skanska, Balfour Beatty and Kier. HS2 main civil works costs are £1bn over budget | City A.M.