Transport for London’s (TfL) Board today approved the funding to award a contract to Dragados SA, through the new Innovative Contractor Engagement (ICE) process for the Bank station capacity upgrade project.
In accordance with the European Union (EU) procurement regulations, TfL will now notify all contract bidders of the outcome of the procurement and start the standstill period.
This will end at midnight on Monday, 15 July 2013, after which TfL will formally award the contract. The Bank and Monument Tube station complex is located in the heart of the City of London financial district and is the fourth busiest interchange station on the Underground network with 96,000 customers during the morning rush hours, which is set to increase.
It is a key interchange served by six lines (Northern, Central, Waterloo & City, and at the Monument end of the same station complex, the District and Circle), as well as the Docklands Light Railway (DLR), for which Bank is the main central terminus. The upgrade project will, by 2021, deliver increased capacity at Bank station and a step free route between the Northern line platforms, DLR and street levels. David Waboso, LU’s Capital Programmes Director said: ‘We used the new ICE procurement process for the first time with this project.
‘The process has been designed to allow bidders to bring their expertise and knowledge to drive innovation that will reduce cost and risk to the project.
‘We’re delighted with the outcome and market response to our innovative procurement model that meets the Mayoral and Governmental imperative to deliver better value for money and public spending.
‘The lead bidder represents both the lowest bid price and offers the greatest benefits.’ The process was designed to get the benefits of early contractor involvement while developing major design and build contracts.
This innovation is commercially confidential to each bidder so they are able to fully derive the value and competitive advantage of their innovation through the procurement process. The selection of a leading bidder has been carried out through the use of an ICE process, whereby tender submissions were assessed against a previously developed RIBA-D base design.
The target was an increase in value of 15 per cent, made up of reduction in the estimated final cost, improvements in the benefits, reduction in disadvantages and an improved schedule.
The process has been successful with three out of four of the bidding consortia exceeding this target.
The lead bid score was an overall improvement of 49.8 per cent, which includes a 19 per cent improvement o customer journey time and 23 per cent cost reduction.