Crossrail busts budget by £590m

Grant Prior 1 year ago
Share

An extra £590m is being invested in Crossrail to make sure the project opens on time.

The extra cash on top of the previous budget of £14.8bn was confirmed in an annual update to parliament today.

Crossrail is getting £300m directly and a further £290m is also being handed to Network Rail to complete its upgrades to the existing network.

A spokesperson for Crossrail said: “The construction of the Elizabeth line is one of the most complex and challenging infrastructure projects ever undertaken in the UK.

“Construction is now in its final stages with a huge effort underway to complete and commission the new railway.

“A number of factors have meant that additional investment is needed by both Crossrail Limited and Network Rail during this final stage of the programme covering both the new build central section and upgrades to the existing railway.

“These cost increases are disappointing but additional funding is critical to the delivery of this vital project.

“£300m will be made available to Crossrail Limited for its remaining programme of works in the central section.

“Both Crossrail Limited and Network Rail remain focused on managing costs through to project completion.”

The Enquirer has reported repeatedly on the cost pressures facing the project at the M&E fit out stage.

Crossrail’s official line has always been that the scheme is “on time and on budget”.

One site source said: “Everyone on the ground knew it wouldn’t hit the budget.

“You always get cost over-runs at the M&E fit out stage on a job like this.”

Crossrail Chief Executive Andrew Wolstenholme stepped down as project leader five months ago.

Latest news

VolkerWessels UK on track to top £1bn turnover

Group margin hits 3% as UK business enjoys record order book of £1.4bn
2 days ago

Lendlease unveils new construction boss

Company veteran Simon Gorski takes over from Neil Martin
2 days ago

Kier to start work on £50m new home for Durham council

Contractor promises major boost to local supply chain
2 days ago

Willmott Dixon to complete Pochin Stoke site

Replacement found for collapsed contractor on £37.5m scheme
2 days ago

Britain’s oldest building company strikes deal with creditors

R Durtnell agrees debt repayment plan with suppliers owed more than £8m
2 days ago

Worker jailed for tax dodging on major London sites

Self-employed Bournemouth builder sentenced to 30 months for evading £110,000 in tax
3 days ago

Bid race starts for £40m M1-A6 link road

Central Bedfordshire Council says project could start in March 2020
2 days ago

Castle Building Services bags £6m M&E package

Early appointment by Bowmer & Kirkland alllows plenty of pre-site start design time
2 days ago

Bright ideas from Balfour Beatty staff save £4m

"My Contribution" programme sees staff suggest 2,600 ways to improve efficiency
3 days ago

Boost your online presence – join the Enquirer Directory

Site for suppliers and buyers showcases products, services and latest stories
1 year ago

£120m plan to replace Liverpool flyover with tunnel

Plan lodged to demolish flyover and replace it with a dual-lane tunnel
3 days ago

B&K checks in with Manchester “Jenga” hotel

Work to start next month on 275-bed Piccadilly Station hotel
3 days ago

Radisson backs £5bn Kent theme park with hotel plan

Hotel giant takes stake in project as backers look to confirm construction start date
4 days ago

Super safe scaffold screen could slash site costs

System in use at Twickenham station site boosts safety and saves money
3 days ago

McMullen lands cladding package at King’s Cross

Specialist to deliver striking facade for main contractor BAM
3 days ago

Balfour results can help “restore confidence” in construction

Boss Leo Quinn says latest numbers show contractors can deliver
4 days ago

HS2 relaunches race for £300m tunnels fit-out

Latest plan for M&E and ventilation bid race to be detailed at London industry day next month
4 days ago

Midas Group struggles to raise margin above 0.25%

Regional builder rejigs operation to restore golden touch
4 days ago

Polish steel entrepreneur buys Builders Beams

Steelo swoops to save 45 jobs at fabricator
5 days ago

Spanish contractor seals £180m Aberdeen waste plant job

Acciona Infrastructure will deliver full turnkey package on Ness Energy Project
4 days ago

Kier and Interserve secure £100m NHS framework places

North East NHS Trust picks trio of firms for estate improvement programme
4 days ago

Workers given mental health monitors to wear

Spencer staff hit blue button on wristband when they are feeling anxious
5 days ago

Contractors advice wanted on £400m concrete road renewal deal

Highways England wants to talk to potential bidders about procuring resurfacing framework
5 days ago

Silvertown Tunnel award suspended after challenge by losing bidder

Transport for London forced to suspend summer contract confirmation after legal action
6 days ago

Colas UK targets growth after trading loss

Colas chief sets out business turnaround plan to double in size
5 days ago

Interserve fit-out boss joins Morgan Lovell

Matt Bray takes head of contracts role at Morgan Sindall office fit-out firm
5 days ago

Subcontractors wanted for £400m Dounreay decommissioning

Framework contractors to host suppliers day next month: Register now
5 days ago

Henry Boot buys social housing contractor

Sheffield developer and contractor buys controlling stake in Starfish Commercial
5 days ago

Caledonian lands £10m modular student digs deal

Offsite specialist will help cut build times by half at Hereford scheme
5 days ago

Money owed to Lakehouse creditors leaps to £27m

Investigations continue into controversial collapse
6 days ago

Contractor services