tunnelling-journal (1)
tunnelling-journal (1)
  • Home
  • Print
    • Subscribe
    • Tunnelling Journal
    • Canadian Tunnelling
    • Breakthrough
    • ITA Activity Report
    • A&NZ Journal
    • WTC Preview
    • Media Kit
  • Digital
    • Newsletter
    • E-Shots
    • TJ Digital edition
    • Products Page
    • Media Kit
  • Conferences
    • BTS Conference and Exhibition
    • Cutting Edge 2024
  • Buyer’s Guide
  • Events Diary
  • Jobs
  • About Us
  • Contact Us
  • Podcast

Home > Bank procurement model saves £61M

Bank procurement model saves £61M

Written by Tris Thomas on 02/10/2013 in News

Tagged: underground

Adopting the Innovative Contractor Engagement procurement method on the estimated $500M Bank Station Upgrade project has delivered 45% additional value through cost savings and improved benefits according to Transport for London. This has reduced the estimated final cost of the project by £61M and cut planned engineering closures by more than 22%.

David Waboso, London Underground’s Capital Programmes Director, said: ‘Bank is a key interchange for our customers and it’s vital that we keep pace with the increase in demand we’re seeing now and in the future.

‘We’ve adopted a new innovative approach to developing the Bank proposals which has allowed us to incorporate innovations through market competition. Now we want our customers’ views on our plans so that we create a modern Tube interchange that works for Londoners.’

The upgrade of the station is set to be delivered in 2021 following the funding settlement agreed by the Mayor with government in the summer which, although challenging and requiring efficiencies to be found, has protected core investment in London’s transport infrastructure over the coming years.

Following a competitive tendering process, TfL awarded the contract for the Bank Station upgrade to Dragados SA in July this year. The other pre-qualified bidders were BFK Joint Venture, CVC Joint Venture and MBA Joint Venture.

The Bank/Monument station complex, located in the heart of the City of London’s financial district, is the fourth busiest interchange station on the Underground network with 98 million customers using the station in 2012/13.

This is set to increase in the coming years, so TfL is planning a major upgrade of the six-line interchange which will increase capacity and provide a step-free route between the Northern line platforms, Docklands Light Railway and street levels.

Comments:

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

Digital Edition

More Like This

02/02/2025

SEALABLE Solutions GmbH gains EPD

SEALABLE Solutions GmbH gains EPD

SEALABLE Solutions GmbH’s sealing solutions for tunnel construction are now equipped with an Environmental Product Declaration (EPD). The EPD is…

19/02/2025

First Chinese-made TBM Exported to the Solomon Islands

First Chinese-made TBM Exported to the Solomon Islands

On February 17th, TBM “Shuangjing No.1” with an excavation diameter of 4.48m left the production line at the second industrial…

26/03/2025

North east link achieves double breakthrough

North east link achieves double breakthrough

The two 15.6m diameter Herrenknecht TBMs helping build the 6.5km North East Link twin tunnels between Watsonia and Bulleen in Melbourne have…

  • Contact Us
  • Media Kit
  • Magazine Archive

Newsletter

The latest from the Tunneling Journal direct to your inbox.

Social

Facebook Linkedin X-twitter Instagram
Youtube Soundcloud Linkedin Rounded Border Svgrepo Com White

Enquiries

TGS Media Ltd
The Old Library
Webster House
Dudley Road
Tunbridge Wells
TN1 1LE
United Kingdom

© Tunnelling Journal. All Rights Reserved. Privacy Policy / Terms & Conditions. Admin

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.Ok