The final cost of Crossrail will be around £700M over the projected cost, New Civil Engineer understands.
The Department for Transport is set to reveal a revised cost of “around £15.5bn” in today’s annual update on the rail line, according to a source close to the project.
Rising civils costs are believed to account for the increased valuation, as well as signalling complications.
Earlier this year, Crossrail Ltd developed a “revised delivery schedule” to save the December 2018 opening date of the central section between Paddington and Abbey Wood from being pushed back after suffering design flaws and testing problems.
In 2010, the Government’s Comprehensive Spending Review confirmed savings of over £1bn in projected costs due chiefly to a revision of the tunnelling strategy.
This meant that delivering Crossrail would cost £14.8bn, down from the original target price of £15.9bn.
However, signalling problems and rising civils costs have sent the final cost price closer to the original budget.
In January, Transport for London (TfL) admitted that there were “increasing cost and schedule pressures” on the Crossrail construction programme, claiming costs were 20% higher than had been forecast, putting construction costs £173M higher than expected.
The increase in construction costs is largely due to delays to Whitechapel and Woolwich stations, extra personnel costs and scope and design changes to system-wide main works.
More to follow…
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