Crossrail is entering the most difficult and challenging phase of its programme, according to Chief Executive Mark Wild.
In a letter dated September 20 to Florence Eshalomi, who chairs the London Assembly Transport Committee, Wild said that while it’s expected the project will be completed within the intended six-month window between October 2020 and March 2021, uncertainty remains due to the significant integration and testing that needs completing.
Wild added: “When taking into account the remaining cost to go, compared with the amount of risk held, we still expect that the project can be delivered within the financing package agreed by our Sponsors in December 2018.”
However, those costs could change. To reflect the uncertainty, forecasts now include additional risk contingency provisions.
“Current projections show a central cost forecast (including risk contingency) of £15,005 million. This is £42m more than the funding committed under the financing package,” wrote Wild.
For the FULL story, read RAIL 889, published on October 9, and available digitally on Android, iPad and Kindle from October 5.