HS2 improves track and catenary risk transfer proposition
August 09, 2019 – HS2 Ltd is revising its risk transfer strategy for track and catenary works after a poor market response to its initial tender process.
HS2 launched tenders for £1.55bn of track work and overhead catenary systems in January 2018 but has been disappointed by the market response.
It has therefore announced an industry day for 3rd September 2019 to meet potential bidders and explain the contract improvements that it plans to make.
“HS2 have recognised the current market conditions are challenging and the increasing concern regarding risk transfer and have therefore revised our position to provide a better balance and overall outcome,” it said.
“The industry day will provide an opportunity to re-engage with the market and outline our revised strategy which we believe will attract a larger number of bidders, reduce risk and thereby produce a more competitive process.”