HS2 invites British businesses to bid for £12 billion supply contracts
The new contract opportunities will provide thousands of businesses and their employees with guaranteed incomes, and help the country’s economic recovery, stated HS2 Ltd’s CEO, Mark Thurston.
HS2 Ltd has released £12 billion worth of supply contracts, which British businesses are being encouraged to tender for.
A four-day virtual event has begun, giving businesses across hundreds of sectors a crucial insight into how they can become part of HS2’s growing supply chain. Businesses from across the UK can find out how to prepare, and start bidding, for the contract opportunities which are due to be let over the next 18 months.
Over 2,000 people have registered to take part, securing over 21,000 virtual seats. Of registrations, 78 per cent are from small and medium enterprises (SMEs), spanning a range of business specialisms, including logistics, electrical engineering, fencing and accommodation providers.
The agenda for the first three days consists of 24 opt-in webinars, delivered by over 60 presenters, which allow delegates to learn about the HS2 scheme, HS2 Ltd’s procurement processes and the programme of works that its contractors are undertaking.
The final day presents the opportunity for over 1,000 potential suppliers to meet one-to-one with HS2’s construction partners, who are looking for new entrants into their supply chain to deliver their 2021/22 work packages.
The four-day programme is being delivered in partnership with HS2’s four main works construction partners: Balfour Beatty VINCI (BBV); Eiffage, Kier, Ferrovial, BAM Nutall (EKFB); Align and Skanska Costain STRABAG (SCS); and two stations contractors (Balfour Beatty/VINCI/SYSTRA and Mace/Dragados), who, between them, will unlock thousands of individual work packages which range in size and value between £5,000 and £200 million.
The potential contracts represent a huge boost for British businesses seeking security and growth amidst the economic uncertainty arising from the coronavirus pandemic. HS2 Ltd has so far awarded 98 per cent of its current contracts to UK-based businesses; 70 per cent of which have gone to SMEs, and it aims to continue that positive trend through direct engagement with suppliers and local business during the Meet the Contractor event.
HS2’s Minister, Andrew Stephenson, who introduced the first day’s session, said: “HS2 is at the heart of our plans to build back better from COVID-19 by firing up economic growth and creating tens of thousands of skilled jobs right across the country. This marks a very important moment for this project as it opens up £12 billion worth of supply chain contracts, creating immediate opportunities and providing certainty for British businesses when they need it most.”