Both jobs were originally thought to cost a total of between £350m and £650m.

But the winning contractors have revealed the final combined price is nearer £310m as Crossrail chiefs continue to drive down costs and rescope contracts.

The winning consortia are:

• C435 – Farringdon station: BAM Nuttall, Ferrovial Agroman (UK) & Kier Construction JV
• C512 – Whitechapel station: Balfour Beatty Civil Engineering, Morgan Sindall & Vinci Construction UK JV

Balfour confirmed that Whitechapel station will be built for a cost of £110m while Kier said Farringdon would be “£200m+”

The contractors to lose out on the Farringdon job were Balfour Beatty Civil Engineering, Morgan Sindall & Vinci Construction UK JV, Costain and Laing O’Rourke & Strabag JV.

At Whitechapel the losing bidders were BAM Nuttall, Ferrovial Agroman (UK), Kier Construction JV, Costain Skanska JV and Dragados Sisk JV.

The remaining central London stations contracts for Bond Street, Tottenham Court Road and Liverpool Street will be awarded in 2012.

Andy Mitchell, Crossrail Programme Director: “Crossrail contracts continue to generate significant construction industry interest.

“As with the Paddington station contract earlier this year, high quality bids were received for both Farringdon and Whitechapel stations.

“The main construction contracts for Bond Street, Tottenham Court Road and Liverpool Street stations will be awarded in 2012.

“Work is progressing along the Crossrail route ahead of tunnelling starting next spring. Manufacture of our tunnel boring machines is advancing, the first of the tunnel portals is now complete and the new Tunnelling and Underground Construction Academy has welcomed its first students.”