The business was first put up for sale in 2018 but was taken-off the market 14 months later after Skanska failed to find a buyer at the right price.

The Enquirer understands that a fresh sale attempt is under consideration as Skanska continues to concentrate on its core infrastructure and building markets.

A company insider said: “Staff think Skanska is still aiming to sell as it is not a core business and needs capital investment.”

Skanska UK is also understood to be currently investing in a new business management software system but Cementation is not part of the upgrade.

Skanska confirmed a round of redundancies this week following the sale of its infrastructure services business to M Group for £50m and decision to exit the gas mains replacement market.

The insider added: “Some of those involved in the infrastructure services sale have been told to get ready for a Cementation sale.”

A Skanska spokesperson said the company did not comment on speculation.