Millions shaved off Silvertown Tunnel cost
25 Feb, 2021 By Rob Horgan
Transport for London (TfL) has shaved £3M off the final estimated cost of the Silvertown Tunnel.
The cost saving is revealed in meeting agenda papers released ahead of next week’s Programmes and Investment Committee meeting.
The final estimated cost for the East London project is now £1.99bn, with £6M spent to date.
The papers add that the cost reduction is “predominantly due to an updated resource forecast, land savings from early site handover and a reduction in the forecast risk for micro tunnelling”.
The 1.4km twin bored Silvertown Tunnel is set to be completed in 2025 and will connect south London with the Tidal Basin Roundabout in Silvertown, in a bid to relieve congestion at the Blackwall Tunnel.
The Riverlinx consortium of Ferrovial subsidiary Cintra, Bam PPP PGGM, Macquarie Capital and SK E&C was officially awarded the contract in November 2019, following months of legal wrangling between TfL and losing bidder Silver Thames Connect (STC).
As part of the PPP contract terms, Riverlinx will raise the capital to build and operate the tunnel and then will be repaid once milestones are hit.
The TfL agenda papers add that the project “continues to make progress as planned”, with main tunnelling work expected to begin at the back end of the year.
It adds: “The Riverlinx design is expected to continue to programme, as is the land access schedule with the main tunnel enabling works progressing to main tunnel works in Q4.
“The contract for the design and manufacture of the tunnel boring machine (TBM) continues to progress as planned. Contracts have been placed for transport and traffic, socio-economic and environmental monitoring which are part of our Development Consent Order obligations and environmental monitoring has started.
“This will enable us to carry out modelling to adequately plan and implement our strategies for mitigation prior to tunnel opening.”
Ground investigation works have also been completed and utility works have begun on diverting cables to supply power to the TBMs.
Work has also begun on the launch chambers in Greenwich and Silvertown, with demolition and site clearance underway.