With their bids coming in below original estimates, European and Irish contractors grabbed the lion’s share of nearly $2 billion in tunneling contracts to be let so far on London’s $23-billion Crossrail project. The four contracts are the first of nearly 30 that Crossrail officials expect to award in the next 11 months. + Image Map: Courtesy Crossrail Ltd. Crossrail Ltd. plans to award 30 contracts in the next year to construct the $23-billion London rail project. Related Links: At Canary Wharf, Key Rail Station Takes Shape Bids below the original estimates were a positive development for project managers, who
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.