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Old November 24th 11, 08:05 PM posted to uk.railway,uk.transport.london
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Default Crossrail construction contracts let at low prices

Posted without comment:

Contractors reveal cut price deals for latest Crossrail contract
awards

24 November, 2011

Crossrail’s Farringdon and Whitechapel main station contracts will be
delivered for less than half the anticipated £625M price, it has
emerged today.

The two winning consortiums will deliver the stations for a combined
£310M.

BBMV, a joint venture of Balfour Beatty, Morgan Sindall and Vinci
Construction, will build Whitechapel station for £110M. It was
originally expected to cost up to £250M.

A three-way joint venture of Kier, Bam Nuttall and Ferrovial will
build Farringdon station for a “£200Mplus” contract on the Crossrail
scheme for major works at Farringdon station, a statement from the JV
said. It was originally expected to cost up to £375M.

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Old November 24th 11, 08:14 PM posted to uk.railway,uk.transport.london
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Default Crossrail construction contracts let at low prices


"Bruce" wrote in message
...
Posted without comment:

Contractors reveal cut price deals for latest Crossrail contract
awards

24 November, 2011

Crossrail's Farringdon and Whitechapel main station contracts will be
delivered for less than half the anticipated £625M price, it has
emerged today.

The two winning consortiums will deliver the stations for a combined
£310M.

BBMV, a joint venture of Balfour Beatty, Morgan Sindall and Vinci
Construction, will build Whitechapel station for £110M. It was
originally expected to cost up to £250M.

A three-way joint venture of Kier, Bam Nuttall and Ferrovial will
build Farringdon station for a "£200Mplus" contract on the Crossrail
scheme for major works at Farringdon station, a statement from the JV
said. It was originally expected to cost up to £375M.

Squeezing until pips pop out.

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Old November 24th 11, 08:17 PM posted to uk.railway,uk.transport.london
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Default Crossrail construction contracts let at low prices

On Thu, 24 Nov 2011 21:14:36 +0000, Pat O'Neill wrote:

"Bruce" wrote in message


A three-way joint venture of Kier, Bam Nuttall and Ferrovial will build
Farringdon station for a "£200Mplus" contract on the Crossrail scheme
for major works at Farringdon station, a statement from the JV said. It
was originally expected to cost up to £375M.

Squeezing until pips pop out.


Look at it this way: it'll leave so much more credit on Tony's card that
can be spent on transport projects in Scotland.

The Teuchters will get their new ferry yet, just see!

--
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Old November 24th 11, 08:19 PM posted to uk.railway,uk.transport.london
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Default Crossrail construction contracts let at low prices

On Nov 24, 9:14*pm, "Pat O'Neill" wrote:
"Bruce" wrote in message

...



Posted without comment:


Contractors reveal cut price deals for latest Crossrail contract
awards


24 November, 2011


Crossrail's Farringdon and Whitechapel main station contracts will be
delivered for less than half the anticipated £625M price, it has
emerged today.


The two winning consortiums will deliver the stations for a combined
£310M.


BBMV, a joint venture of Balfour Beatty, Morgan Sindall and Vinci
Construction, will build Whitechapel station for £110M. It was
originally expected to cost up to £250M.


A three-way joint venture of Kier, Bam Nuttall and Ferrovial will
build Farringdon station for a "£200Mplus" contract on the Crossrail
scheme for major works at Farringdon station, a statement from the JV
said. It was originally expected to cost up to £375M.


Squeezing until pips pop out.- Hide quoted text -

- Show quoted text -


I wouldn't like to be the resident engineer on those jobs as the
contractor pulls out all the stops to make up the lost cash.

George
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Old November 24th 11, 10:14 PM posted to uk.railway,uk.transport.london
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Default Crossrail construction contracts let at low prices

On 24/11/11 21:05, Bruce wrote:
BBMV, a joint venture of Balfour Beatty, Morgan Sindall and Vinci
Construction, will build Whitechapel station for £110M. It was
originally expected to cost up to £250M.


I wonder if all the Crossrail planning has been to the same high standard.

Ian


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Old November 25th 11, 05:46 PM posted to uk.railway,uk.transport.london
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Default Crossrail construction contracts let at low prices

On Nov 24, 9:05*pm, Bruce wrote:
Posted without comment:

Contractors reveal cut price deals for latest Crossrail contract
awards

24 November, 2011

Crossrail’s Farringdon and Whitechapel main station contracts will be
delivered for less than half the anticipated £625M price, it has
emerged today.

The two winning consortiums will deliver the stations for a combined
£310M.

BBMV, a joint venture of Balfour Beatty, Morgan Sindall and Vinci
Construction, will build Whitechapel station for £110M. It was
originally expected to cost up to £250M.

A three-way joint venture of Kier, Bam Nuttall and Ferrovial will
build Farringdon station for a “£200Mplus” contract on the Crossrail
scheme for major works at Farringdon station, a statement from the JV
said. It was originally expected to cost up to £375M.


I believe the original estimates will have included an "optimism bias"
mark up

Patrick
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Old November 25th 11, 06:11 PM posted to uk.railway,uk.transport.london
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Default Crossrail construction contracts let at low prices


"D1039" wrote in message
...
On Nov 24, 9:05 pm, Bruce wrote:
Posted without comment:

Contractors reveal cut price deals for latest Crossrail contract
awards

24 November, 2011

Crossrail’s Farringdon and Whitechapel main station contracts will be
delivered for less than half the anticipated £625M price, it has
emerged today.

The two winning consortiums will deliver the stations for a combined
£310M.

BBMV, a joint venture of Balfour Beatty, Morgan Sindall and Vinci
Construction, will build Whitechapel station for £110M. It was
originally expected to cost up to £250M.

A three-way joint venture of Kier, Bam Nuttall and Ferrovial will
build Farringdon station for a “£200Mplus” contract on the Crossrail
scheme for major works at Farringdon station, a statement from the JV
said. It was originally expected to cost up to £375M.


I believe the original estimates will have included an "optimism bias"
mark up

Patrick

Putting the pips back in.

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Old November 25th 11, 06:52 PM posted to uk.railway,uk.transport.london
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Default Crossrail construction contracts let at low prices

D1039 wrote:
On Nov 24, 9:05*pm, Bruce wrote:
Posted without comment:

Contractors reveal cut price deals for latest Crossrail contract
awards

24 November, 2011

Crossrail’s Farringdon and Whitechapel main station contracts will be
delivered for less than half the anticipated £625M price, it has
emerged today.

The two winning consortiums will deliver the stations for a combined
£310M.

BBMV, a joint venture of Balfour Beatty, Morgan Sindall and Vinci
Construction, will build Whitechapel station for £110M. It was
originally expected to cost up to £250M.

A three-way joint venture of Kier, Bam Nuttall and Ferrovial will
build Farringdon station for a “£200Mplus” contract on the Crossrail
scheme for major works at Farringdon station, a statement from the JV
said. It was originally expected to cost up to £375M.


I believe the original estimates will have included an "optimism bias"
mark up



True, and the original cost estimates were made at a time when
construction prices were not only at a record high, but projected to
continue rising at a rapid rate.

The recession hit construction very hard and there is no sign of any
recovery. On the contrary, forward order books are at a very low
level. So prices have dropped considerably.

I gather from someone I know at Crossrail that the overall estimated
cost for the project has now dropped by around **£2 billion** from the
original estimates. I think that means we are now looking at an
outturn cost of around £14.7 billion at 2009 prices.

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Old November 25th 11, 08:37 PM posted to uk.railway,uk.transport.london
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Default Crossrail construction contracts let at low prices

Bruce wrote:



I believe the original estimates will have included an "optimism bias"
mark up



True, and the original cost estimates were made at a time when
construction prices were not only at a record high, but projected to
continue rising at a rapid rate.

The recession hit construction very hard and there is no sign of any
recovery. On the contrary, forward order books are at a very low
level. So prices have dropped considerably.


Is it fair to think that most building works for the Olympic Games are
finished now ?

I do hope quantities are calculated right....


Theo

--
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Old November 25th 11, 08:42 PM posted to uk.railway,uk.transport.london
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Default Crossrail construction contracts let at low prices

"Bruce" wrote in message
...

True, and the original cost estimates were made at a time when
construction prices were not only at a record high, but projected to
continue rising at a rapid rate.

The recession hit construction very hard and there is no sign of any
recovery. On the contrary, forward order books are at a very low
level. So prices have dropped considerably.

I gather from someone I know at Crossrail that the overall estimated
cost for the project has now dropped by around **£2 billion** from the
original estimates. I think that means we are now looking at an
outturn cost of around £14.7 billion at 2009 prices.


Isn't that traditionally one of the arguments for a programme of public
works in recessionary times - that you can get good value for money?

Regards

Jonathan




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