TfL finalises Silvertown contract
27 November 2019Great Britain – The contract for the Silvertown Tunnel project has been finalised. The contract had been delayed by legal challenges, but the Riverlinx consortium, comprising Ferrovial’s Cintra, Bam PPP PGGM, Macquarie Capital, Aberdeen Standard Investments and SK E+C has taken the work.
The GBP 1bn Silvertown project is a twin-bore road tunnel that will pass under the River Thames in east London and is due to open in 2025.
The design, build, finance, maintain contract form means that all risk during construction, and for an initial operative period, will sit with the contractor. Payments from the client will only begin once the tunnel has been commissioned, and there is also the option to reduce payments should the tunnel not meet certain key standards, such as availability for use by traffic, and the structure’s physical condition.
A spokesperson for Transport for London said, “During construction, both the consortium and TfL are committed to ensuring that the majority of construction material is transported by river, that all on-site construction machinery meets the Mayor’s Non-Road Mobile Machinery Low Emission Zone Standards, and that any vehicles working on the scheme are Euro VI.”
The project is expected to comprise two 11.45m diameter bores of 1km in length.
