The price of the Silvertown Tunnel has crept up once more, this time by £2m to £179m, in accordance with Transport for London (TfL).
The associated fee overrun and delay have been revealed in an agenda doc for TfL’s subsequent Programmes and Funding Committee assembly on 5 October.
On the earlier committee assembly in July, the estimated last value (EFC) of the venture stood at £177m. The brand new £179m EFC is, nonetheless, down from the EFC of £186m forecast earlier this year. TfL managed to carry the forecast down by £9m in the course of the yr via discount in danger publicity.
In line with the agenda doc, the EFC is at present £6m over the permitted sum of £173m, “owing to inflation will increase and the agreed protected cease undertaken due to the coronavirus pandemic”.
The newest £2m improve was “as a consequence of a reassessment of a number of the key dangers, that are being managed and mitigations developed”. TfL stated it’s on the lookout for “alternatives to cut back value and danger publicity, which must be achievable to carry us again consistent with the [approved sum]”.
Because it stands, £117m has been spent on the venture with an additional £62m at present estimated to be wanted to carry the tunnel to completion.
In the meantime, the opening date of the 1.4km Thames tunnel has been pushed to the second quarter of 2025/26, from the primary quarter.
The deliberate completion date has slipped 18 days, simply into the second quarter of 2025/26, following “a change in programme sequencing to permit for tools set up to happen after the removing of the tunnel-boring machine (TBM)”.
Nonetheless, each TfL and contractor Riverlinx – a three way partnership between Bam Nuttall, Ferrovial Development and SK ecoplant – “are working laborious to carry the allow to make use of again into Q1 as per earlier experiences”.
Mitigations are underway to permit for some elements of the TBM to be eliminated via Greenwich reasonably than Silvertown. These have already diminished the potential influence of the tools set up from 49 to 18 days.
By way of the programme, the TBM reached the rotation chamber in Greenwich in February 2023, finishing the tunnelling of the primary bore. Following a complex but successful rotation, it began the ultimate leg of its journey in Could and accomplished its drive in July, 62 days forward of plan.
