- Global engineering and nuclear energy firm AtkinsRéalis Group (TSX:ATRL) will modernize the United Kingdom’s rail signalling infrastructure over a contract ending in 2034
- The contract is part of a decade-long £4 billion signalling upgrade project spearheaded by Network Rail, the U.K.’s rail infrastructure operator
- AtkinsRéalis provides sustainable engineering and nuclear energy solutions across the world
- AtkinsRéalis Group stock has added 13.83 per cent year-over-year and 144.47 per cent since 2019
Global engineering and nuclear energy firm AtkinsRéalis Group (TSX:ATRL) will modernize the United Kingdom’s rail signalling infrastructure over a contract ending in 2034.
Network Rail, the U.K.’s rail infrastructure operator, is upgrading and digitizing signalling across its 20,000-mile network as part of its decade-long £4 billion Train Control Systems Framework. With Monday’s deal, AtkinsRéalis has now secured two of the eight contracts awarded under the framework to date.
The contract complements AtkinsRéalis’ ongoing rail and signalling projects in east England, southwest London and its work as Railway Systems Integration Partner for the East Coast Digital Program, the U.K.’s first intercity digital railway.
The engineering and nuclear energy firm has delivered consistent growth coming out of the COVID-19 pandemic, having increased revenue from C$7 billion in 2020 to C$8.6 billion in 2023, though net income has proven difficult to harness because of high inflation, a slowing global economy after aggressive monetary policy, and lingering fallout from the firm’s unsavory past.
Leadership insights
“This landmark framework represents a significant step forward in modernizing the U.K.’s rail infrastructure,” Ian L. Edwards, president and chief executive officer at AtkinsRéalis, said in a statement. “Our expertise in both conventional and digital signalling positions us well to contribute to increased reliability and efficiency across Britain’s railway network, supporting the industry’s transformation towards a more sustainable and high-performing future.”
“This framework appointment demonstrates the strong momentum of our rail business and cements our position as a market leader of high-quality signalling services in the U.K.,” added Richard Robinson, AtkinsRéalis’ president, United Kingdom and Ireland. “We are known for our expertise in European Train Control System technology and ability to create a collaborative environment across the supply chain, which are both crucial for delivering complex projects such as digital signalling for the TransPennine Route Upgrade.”
About AtkinsRéalis Group
AtkinsRéalis provides sustainable engineering and nuclear energy solutions across the world, including consulting, advisory and environmental services, intelligent networks and cybersecurity, design, procurement, project and construction management, operations and maintenance, decommissioning and capital.
AtkinsRéalis Group stock (TSX:ATRL) is down by 0.06 per cent, trading at C$50.14 per share as of 10:58 am ET. The stock has added 13.83 per cent year-over-year and 144.47 per cent since 2019.
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(Top photo of King’s Cross station in London: Network Rail)