A Laing O’Rourke/Costain joint venture is understood to be on the verge of securing the contract for the Bond Street Tube station revamp, calming fears that the £300m scheme would be a victim of the public sector spending cuts.
The two firms, along with sub-contractor Bachy Soletanche, is thought to have beaten off competition from a shortlist that included Balfour Beatty and a joint venture between Taylor Woodrow and Bam Nuttall.
The consortium is awaiting final approval from Transport for London to complete the revamp of the station. An official announcement is expected later in the summer.
Morgan Est was also initially in the running but dropped out at the end of last year.
The project will involve expanding the existing Bond Street tube station and creating a step-free link between it and the planned Crossrail Bond Street station.
There will be a new tube entrance on Marylebone Lane, which will result in the compulsory purchase and demolition of a building at 354-358 Oxford Street.
An expanded ticket hall to provide greater capacity is also planned, along with new escalators to serve the Jubilee line.
Utility diversions and enabling works are under way around Crossrail’s Bond Street station.
Construction is due to begin by the end of the year, with completion scheduled for early 2017.
Speculation has been mounting over the future of transport schemes in the capital, as the government presses ahead with plans to make significant spending cuts.
Fears about the future of the scheme had been raised after transport secretary Philip Hammond said that the government would look at ways to save costs on the Crossrail project.
Last week TfL commissioner Peter Hendy issued an internal letter to staff saying that all new projects would be put on hold, pending the government’s spending review in the autumn.
There were fears that the Bond Street project could be cut or handed to Victoria station upgrade winners Taylor Woodrow/Bam Nuttall if that £695m scheme was hit.
It is thought the Tottenham Court Road station upgrade scheme is unlikely to be affected by any cuts as construction work has started on the £500m project.