The APM Systems Contract worth around £270m will include a 25-year transport operation and asset maintenance contract for the transit system.

The capital investment element is costed at around £65m with the cost of operation and maintenance over 25 years expected to be worth £205m.

HS2 also confirmed tendering for the £150m main infrastructure works package on the elevated transit system will start later next year.

The APM will move passengers and visitors between HS2’s Interchange Station, the NEC, Birmingham International rail station and Birmingham Airport. ​

The APM will run on an elevated 2.2km long viaduct at heights ranging from 6m to 14m, crossing the NEC, West Coast Main Line and M42 Motorway. ​

HS2’s procurement and supply chain director, Andrew Cubitt, said: “The APM is a vital piece of infrastructure in the HS2 project, connecting high speed rail passengers to the classic rail network, and supporting the shift from car use to public, mass transit transport, which is so important in achieving the UK’s target of net zero carbon.”

Shortlisted companies will be invited to tender early next year, with the contract due to be awarded towards the end of 2024.