A U.S.-led joint venture that includes AECOM and CH2M Hill beat two other short-listed teams headed by Bechtel Ltd. and by Parsons Brinckerhoff Ltd. to win an estimated $140-million program management contract for London�s vast new Crossrail project. The project cost has been put at an estimated $22 billion. The winning team, called Transcend, will "work along side [us] as part of an integrated client team to manage the overall programme," says Steve Rowsell, head of procurement for project owner Cross London Rail Links Ltd. Transcend also includes U.K.-based Nichols Group Ltd. Primary construction on the estimated $22-billion project is
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.