London Underground (LU) yesterday revealed the shortlisted bidders for its £500M Bank Station Capacity Upgrade project, which is pioneering a new procurement process that aims to reward failed bidders if they come up with money saving ideas that are adopted by the winning team.
The four shortlisted bidders are: the BFK joint venture comprising Bam Nuttall, Ferrovial and Kier; the CVC joint venture of Costain, Vinci Construction Grands Projets and Vinci Construction; Dragados; and the MBA joint venture of Morgan Sindall, Balfour Beatty and Alpine Bemo Tunnelling.
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. The contract award is expected by July next year.
Speaking about the new Innovative Contractor Engagement process LU capital programmes director David Waboso said it should “improve our relationship with the contractor market and get the benefits of early contractor involvement while developing major design and build contracts”.
Innovative ideas will be commercially confidential to each bidder so they are able to fully derive the value and competitive advantage of their innovation through the procurement process.