A U.S.-led joint venture that includes AECOM Technology Corp., Los Angeles, and CH2M Hill Cos., Denver, won an estimated $140-million program management contract for London’s vast new Crossrail project. The JV beat two other short-listed teams headed by Bechtel Ltd. and Parsons Brinckerhoff Ltd. The project cost has been estimated at $22 billion. The winning team, called Transcend, will “work alongside [us] as part of an integrated client team to manage the overall program,” says Steve Rowsell, head of procurement for project owner Cross London Rail Links Ltd. The Transcend team also includes U.K.-based Nichols Group Ltd. Primary project construction
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.