Government awards contracts to build phase one of new HS2 railway line

Government awards contracts to build phase one of new HS2 railway line

The construction will support about 16,000 jobs

Monday, July 17, 2017

The Government has announced the award of several contracts to build the first phase of the new HS2 line. 

The new high-speed railway will connect London to Birmingham, as well as the East Midlands, Manchester, and Leeds. 

The contracts awarded are worth a total of £6.6 billion, and will incorporate the cost of building embankments, viaducts and tunnels from the capital to the West Midlands. 

The overall project is believed to support roughly 16,000 jobs. 

Carillion is one of the firms which has been handed the job, a company which has suffered in recent times. 

Last week, the firm's share price fell by more than 70%, following a warning about profits and a write-off of £845 million on numerous construction contracts. 

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