NEW STANSTED airport owner Ferrovial is to review the cost and scope of a planned second runway at the site in a move to get better value for money.
Airport Development & Investment Limited (ADI), the consortium led by the Spanish construction giant Ferrovial and the new owner of BAA, said that it will continue with the planned second runway as scheduled, but will review costs.
'We are reviewing the costs and plans for the runway as we would any major capital expenditure plan in the group, to ensure it delivers value for money, ' said Ferrovial chief executive officer Juan Bejar.
When Ferrovial's takeover of BAA was announced last month, former employees of the UK airport operator warned that the Spanish firm would look to cut costs by abandoning the BAA norm, high-spec facilities (NCE 15 June).
Project director Alastair McDermid said that a decision on the proposed location of the second runway and associated facilities would be made in the autumn, not this summer as planned.
He said: 'We now expect to be able to do this in the autumn, although we are still on track to submit a planning application in summer 2007.'
ADI confimed that it would support BAA's commitment to the Government's 2003 Air Transport White Paper, which proposes a third runway at Heathrow in addition to a second at Stansted.