Transport for London (TfL) is preparing to award the £1bn contract for the construction of the Silvertown Tunnel under the Thames in east London after legal action blocking the process was lifted.
Riverlinx, a consortium made up of BAM’s public private partnerships arm BAM PPP PGGM, Aberdeen Standard Investments, Cintra, Macquarie Capital and SK Engineering & Construction, was named as preferred bidder to design, build finance and maintain the tunnel in May this year.
But in August TfL suspended the scheme after reserve bidder, the Silver Thames Connect (STC) consortium involving Hochtief, Dragodas and Iridium Concesiones de Infrastructuras started court proceedings.
A TfL spokesperson said: “We are pleased that STC has consented to TfL’s application to court to lift the automatic suspension on award of the Silvertown Tunnel contract.
“We will now progress the arrangements for award of the contract to the Riverlinx consortium as soon as possible.
“Once open, a new twin-bore tunnel, located within the extended Ultra-Low Emissions Zone, will remove barriers for people in east London needing to cross the river for work or leisure, enable the introduction of new bus services and improve the reliability and resilience of the local road network.”
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Let real sense prevail. Been asking for a new link for the longest while. Now need to watch the space. I am hoping they will consult with CIOB to provide ethics training as cost overruns can be managed by good ethical principled behaviour.
How much will the “toll” be in this part of London??
Very pretty….but where are the toll barriers ?!!