Crossrail has revealed cost overruns of £1bn on completed major contracts on the job.
A Freedom of Information request produced the spreadsheet below detailing the initial costs and final price of 43 completed tier one contracts on the project.
Crossrail has awarded 65 tier 1 contracts to deliver the new £14.8bn railway with 43 now complete.
The completed contracts cover enabling works, construction of the running tunnels as well as initial station construction – piling and utility diversions.
Station construction and fit-out of the tunnels is still underway reflecting the 22 contracts that are still to complete.
None of the major Crossrail tier 1 contracts were awarded as fixed price contracts and Crossrail chiefs never expected them to be completed for the award price.
The costs increased mainly due to design changes and low initial bids as tender competitions were carries-out in a much slower market.
Crossrail said: “The Crossrail project is over 85% compete, is scheduled to open on time as the Elizabeth line in December 2018 and will be delivered within its £14.8 billion funding envelope.
“The Elizabeth line will deliver the biggest increase to the capital’s transport system in a generation and will be a truly remarkable addition to London’s transport network.”
Full details of Crossrail Completed Works Contracts as at 31 July 2017: Contract Values
from Construction Enquirer http://www.constructionenquirer.com/2017/08/07/crossrail-confirms-1bn-extra-cost-of-major-contracts/
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