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Westham67 8:14 Mon Dec 10
Crossrail set for further £1bn bailout as problems mount
I don't read the FT I saw this on Linkedin

From what have read previously the project its top heavy in management.

From a track perspective 73 miles(119K) of track is a relatively small project

https://www.ft.com/content/a4e79458-fbbe-11e8-ac00-57a2a826423e

Ministers are poised to announce a fresh bailout for Crossrail as early as Monday as fears grow that the start date for the flagship London project will be pushed back even further.

Officials from the Department for Transport and Transport for London, who have been locked in emergency talks for months, were holding further negotiations on Sunday ahead of an imminent public announcement.

People close to the project believe the latest rescue plan — the third this year — will involve around £1bn of new funding. “Work is continuing between the government, mayor and TfL on finalising a financing package,” said a TFL spokesperson.

Former Labour MP Nick Raynsford is also expected to be appointed as Crossrail’s deputy chairman.

Later this week Sadiq Khan, the mayor of London, is expected to set out various cuts to projects in the city to help fill the financial black hole left by Crossrail’s woes.

The capital should have been celebrating the opening of the east-west London railway, the biggest construction project in Europe, this week. But in August, Crossrail announced it would not begin operation until autumn 2019 at the earliest.

Even that now seems “wildly optimistic”, one source close to the project said, given the problems with signals, trains and stations. leading to “growing panic” among executives at TfL. A number of people close to the project now saying it may not be ready until late 2020.

Station construction has fallen behind schedule, with some, such as Bond Street, unlikely to be finished until the new year. This has delayed testing on the central section, which has now been delayed until next spring, said one person close to negotiations. The completion of trains and signalling may be delayed until well into 2020 because they need to be tested together once the infrastructure is complete.

“It’s the software development that is the issue,” said another person close to the project. “They need new software to go on the trains and they need to co-ordinate that with the three different signalling systems, and they need to test it fully.”

The project received an injection of £590m in July and a further £350m loan in October — which increased the total cost of the scheme to £15.8bn. But a further £1bn is now needed to address TfL’s “urgent cash flow problems,” said one person close to the operator.

KPMG, which has been advising on the project, is understood to have said earlier this autumn that £1.3bn was needed to plug the capital hole.

The cost overruns will put pressure on TfL, which is due to release its business plan this week. The combination of deep cuts to the government’s annual grant and a fall in passenger journeys — by 41m, or 1 per cent, in the year to the end of March — has already left TfL with an operating deficit of £1bn, causing difficulties for the London mayor Sadiq Khan, who has pledged to freeze fares.

Caroline Pidgeon, chair of the London assembly transport committee, said she was “really worried” about TfL’s budget. “Crossrail was going to be the knight in shining armour, delivering huge revenue in the first year to help balance the budget,” she said.

Ms Pidgeon predicted a swath of cuts in this week’s revised TfL business plan, such a reduction in London Underground’s budget and delays to new transport projects in the capital.

Mr Khan is under pressure over his failure to release documents that should reveal when he knew about the delays. A number of documents are set to be released this week which should confirm whether the mayor knew of the delays before August, when he announced the nine month delay.

The cost overruns and delays have already lead to the resignation of Sir Terry Morgan from his jobs as chairman of both Crossrail and the HS2 rail project, which he only joined in August.

The mayor’s office has been in early talks with Tony Meggs, a former BP executive who runs the Infrastructure and Projects Authority, to replace Sir Terry as Crossrail chair.

Replies - Newest Posts First (Show In Chronological Order)

Mike Oxsaw 6:43 Thu Dec 20
Re: Crossrail set for further £1bn bailout as problems mount
Yeah, but if it wasn't for fucking BREXIT, the south-eastern arm of Crossrail would have gone on to Brussels, instead of stopping at Abbey fucking Wood. EVERYBODY knows that.

Thanks, fucking....fucking...fucking..., oh! FUCK OFF! FUCK OFF! FUCK OFF! FUCK OFF!

Westham67 4:09 Thu Dec 20
Re: Crossrail set for further £1bn bailout as problems mount
London’s $22 Billion Supertrain Is Worth the Wait
Crossrail,

Europe’s biggest infrastructure project, is late and over budget. But it’s still nowhere near as bad as other large-scale building ventures.

https://www.bloomberg.com/opinion/articles/2018-12-11/london-s-22-billion-crossrail-is-worth-the-wait

, 11:41 Fri Dec 14
Re: Crossrail set for further £1bn bailout as problems mount
A8, your posts smack of desperation. As we watch the self indulgent spectacle of your party putting its problems before country and pulling itself to bits you pathetically parrot the rubbishing Labour line as some sort of diversion tactic.

Why not instead act in a patriotic way and hammer away at your fellow conservatives about the need to put the ordinary people of this country first.

Or alternatively bleat on with some misleading whataboutery because the state your party has got our country into is to big to address.

After8 9:07 Fri Dec 14
Re: Crossrail set for further £1bn bailout as problems mount
You cannot trust labour with any infrastructure project. They're so so shit.

balders 7:43 Fri Dec 14
Re: Crossrail set for further £1bn bailout as problems mount
Leroy

Most I heard being earnt was 850 a day for Principles and TiC's (but that is the same rate as 4 years ago)

Unless he was overall PM be amazed if he was on 2k

Westham67 6:04 Fri Dec 14
Re: Crossrail set for further £1bn bailout as problems mount
More money rescues completion of Crossrail 13 Dec 2018
Transport for London News Release
After announcing in August a year’s delay of the December 2018 opening of the Crossrail project in London, officials confirm an extra £2 billion funding facility to complete the project and report that the revised Autumn 2019 opening date of the railway “can no longer be committed to”.

Full From LinkedIn

https://www.tunneltalk.com/UK-13Dec2018-New-financing-agreement-to-finish-Crossrail-project.php?fbclid=IwAR31soDzWNiv56vaMfJpkdnUERVk6WknEvPd1X9K6KLYF1XuUfFCzUoeB9o

LeroysBoots 2:25 Wed Dec 12
Re: Crossrail set for further £1bn bailout as problems mount
I reckon he must be !

Spends £400 a month on wine, who does that !?!

aldgate 11:40 Wed Dec 12
Re: Crossrail set for further £1bn bailout as problems mount
he's either a serial leaser or a drug dealer......

LeroysBoots 10:47 Wed Dec 12
Re: Crossrail set for further £1bn bailout as problems mount
overbyyer 8:32 Mon Dec 10

Well that's what he told me, his cars:

Mercedes ML
Bentley Convertible ( 15 plate )
Nissan Navarro pick up
BMW 3 Series M sport
Burstiner RV ( Paid 98K... cash for it ! )

aldgate 10:09 Wed Dec 12
Re: Crossrail set for further £1bn bailout as problems mount
this will become a major scandal http://www.constructionenquirer.com/2018/09/13/crossrail-chiefs-could-get-more-bonus-payments/

Guy Gibsons Dog 11:21 Tue Dec 11
Re: Crossrail set for further £1bn bailout as problems mount
The deep tube Pic, Central and Bakerloo signalling has been discontinued,along with new control centres and much more, I can see the Bakerloo line extension being canned aswell

REALGSA 4:36 Tue Dec 11
Re: Crossrail set for further £1bn bailout as problems mount
Is everyone on day rate at Crossrail...

Guy Gibsons Dog 4:31 Tue Dec 11
Re: Crossrail set for further £1bn bailout as problems mount
additional people

Guy Gibsons Dog 4:30 Tue Dec 11
Re: Crossrail set for further £1bn bailout as problems mount
Where are all of the additional going to come from to use this line, surely people that use a congested Central line will now use it, people coming in from Shenfield will use it but currently use another line, so will people from Reading, an extra 100 k or so people will not magically start working in London, existing passengers will simply go from one company to another.

Westham67 2:10 Tue Dec 11
Re: Crossrail set for further £1bn bailout as problems mount
He works for LUL he's in the delivery team. I worked for sub cons on LU for 9 years I did my Hand back licence in 1997. I worked with Scott on Norther line City branch P-way. Scott was the foreman and we did a program of reconditioning both on a jackhammer, we were good mate I haven't seen him for overs 15 years

TheBoleynBoy 2:05 Tue Dec 11
Re: Crossrail set for further £1bn bailout as problems mount
67,

Name rings a bell probably via email, never seen him though

lowermarshhammer 12:49 Tue Dec 11
Re: Crossrail set for further £1bn bailout as problems mount
4LM upgrade project on the Underground is turning out to be the usual shit show.

Supposedly all done by 2023, add at least 3 - 5 years to that.

lowermarshhammer 12:45 Tue Dec 11
Re: Crossrail set for further £1bn bailout as problems mount
"May not be ready until late 2020"

Railway speak for done and dusted by 2025 if you're lucky.

Westham67 12:40 Tue Dec 11
Re: Crossrail set for further £1bn bailout as problems mount
Do you know Scott Roberts ?

TheBoleynBoy 12:35 Tue Dec 11
Re: Crossrail set for further £1bn bailout as problems mount
No track engineering side, look after the track quality.

zebthecat 12:35 Tue Dec 11
Re: Crossrail set for further £1bn bailout as problems mount
Crossrail Act approved by parliament - 2008.
Bojo elected mayor - 2008
Crossrail building work started - 2009.

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