Contractor Balfour Beatty’s UK construction revenue has fallen by 23% between January and May, the firm announced today.
17.30: HS2 Ltd has today recommended tunnelling under the M6 Bromwich Viaduct as part of its High Speed 2 route instead of the previously-planned surface route.
A 2.6km twin-bored tunnel from Castle Bromwich Business Park to the eastern edge of Washwood Heath will now be proposed. The planned surface route would require moving the River Tame, building flood defences, relocating National Grid power lines and remodelling a busy junction on the A47.
2.30: The Rail Accident Investigation Branch (RAIB) is investigating a runaway incident in which a mobile elevated working platform (MEWP) hit scaffolding in a tunnel near Glasgow Queen Street station.
2.00: A consortium including Borealis Infrastructure Management and the Kuwait Investment Office has approached Severn Trent Water with a view to launching a takeover bid.
1.30: Don’t forget to have a look at yesterday’s picture gallery of the spire installation at the One World trade Centre, you can find it here.
12.30: UK GDP would be as much as 5% higher if infrastructure output was as strong as that of other countries, according to a new report by the Centre for Economic and Business Research.
The report, which was commissioned by the Civil Engineering Contractors Association, estimates that substandard infrastructure was costing the UK £78bn annually.
The report concludes that if UK infrastructure was brought up to the standard of other developed countries it could contribute £100bn a year to the economy.
11.30: Transport for London (TfL) and Network Rail have launched a joint consultation on Crossrail 2 north-south rail line across London .
The consultation will examine the expected effect of Crossrail 2 on London’s transport system, passenger numbers, the different proposed routes and how to fund the project.
“It is clear that this project can only go ahead with the necessary investment so it is essential that a robust funding plan is put in place for its delivery as soon as possible,” said London Chamber of Commerce & Industry deputy chief executive Peter Bishop.
“Furthermore, with the Comprehensive Spending Review fast approaching, it is vital that the Chancellor commits to maintain investment in London’s transport network, so that TfL has the confidence and certainty to plough on ahead with planning for these types of projects.”
10.30: Contractor Balfour Beatty’s UK construction revenue has fallen by 23% between January and May this year, the firm announced today.
The announcement came in its Q1 interim management statement, covering the period 1 January to 13 May this year.
There has been no change in performance since the companuyy’s last trading update in which it announced a £50M reduction in pre-tax profit expectations from its UK construction business.
10.00: US construction giant Bechtel is to open an engineering centre in the United Arab Emirates (UAE), the firm announced today.
The centre will focus on rail and marine engineering projects.
“Much of the growth for new railways and ports is in the Gulf region,” said Bechtel regional president for Europe, Africa and the Middle East David Welch. “We have worked in this region for more than 70 years, and our decision to base the centre in the UAE represents part of our ongoing commitment to the region.”