Thanks to bipartisan support, London’s $24-billion government-sponsored Crossrail project seems to have a secure future even as public spending cuts loom. Having already signed up all the design teams, Transport for London’s project company, Crossrail Ltd., is now procuring the last tunneling contract. Photo: Crossrail Ltd. Wide-scale demolition at Tottenham Court Road for one of Crossrail’s largest underground hubs. Related Links: Brazil Plans High-Speed Rail for Olympics China-Hong Kong Rail Line Costs Deepen The project includes 21 kilometers of twin tunnels under central London. Crossrail Ltd. set a March 24 deadline for firms to lodge prequalification bids for a contract
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.