Costain-Skanska JV wins £150m Crossrail contract

26th Jul 2011 09:50

Engineering groups Costain and Skanska will undertake a joint venture after securing a £150m contract to build the Crossrail Paddington Station in London. It is one of seven new underground stations and is the first station contract to be awarded as part of the £14.8bn Crossrail programme. The station will create a new railway link between Maidenhead to the west of London and Abbey Wood and Shenfield to the east. Costain chief executive officer Andrew Wyllie said: "We are delighted to have secured our fourth Crossrail contract, reflecting our ability to consistently deliver valuable solutions in the rail sector utilising our broad range of capabilities and depth of expertise. He added: "We look forward to working with Crossrail to deliver this landmark station and to playing our part in enhancing London's transport infrastructure."The project is expected to make a significant impact on London's railways, boosting capacity by 10%, delivering new journey opportunities, faster journey times and up to 24 trains per hour between Paddington and Whitechapel during the peak. The Crossrail Paddington Station will be a key interchange with the existing Network Rail services at the Paddington mainline station and with London Underground. Costain's shareprice at 10:05 (26/7/11) was 211.56p, +2.56pNR