London Bank upgrade awarded
15 July 2013Transport for London¹s (TfL) Board has approved the funding to award a contract to Dragados SA, through the new Innovative Contractor Engagement (ICE) process for the Bank station capacity upgrade project, it was announced last week. TfL has notified all contract bidders of the outcome of the procurement and started the standstill period, which will end in four days time, after which TfL will formally award the contract.
The Bank and Monument Tube station complex is located in the heart of the City of London financial district and is the fourth busiest interchange station on the Underground network with 96,000 customers during the morning rush hours, which is set to increase. It is a key interchange served by six lines.
The upgrade project will, by 2021, deliver increased capacity at Bank station and a step free route between the Northern line platforms, DLR and street levels.
David Waboso, LU¹s capital programmes director said: "We used the new ICE procurement process for the first time with this project.
"The process has been designed to allow bidders to bring their expertise and knowledge to drive innovation that will reduce cost and risk to the project.
"We¹re delighted with the outcome and market response to our innovative procurement model that meets the Mayoral and Governmental imperative to deliver better value for money and public spending.
"The lead bidder represents both the lowest bid price and offers the greatest benefits."
