Project Manager News Hubb
Advertisement Banner
  • Home
  • Project Management
  • Project Management Tools & Software
  • Contact
No Result
View All Result
  • Home
  • Project Management
  • Project Management Tools & Software
  • Contact
No Result
View All Result
Wellnessnewshubb
No Result
View All Result
Home Project Management

Britain Delays Major Rail Project HS2 As Costs Soar Again

admin by admin
March 10, 2023
in Project Management


Britain said on Thursday it would delay building parts of a new high-speed railway linking London and northern England after the cost of the massive project, known as HS2, soared yet again.

In the latest blow to a project designed to modernise Britain’s rail network and add capacity on busy tracks, the government said construction of a section in central England would be pushed back.

“We have seen significant inflationary pressure and increased project costs,” British transport secretary Mark Harper said in a written statement to parliament.

Companies involved in building HS2 include Kier Group, Balfour Beatty and Vinci.

First proposed in 2009, HS2 is billed as the largest infrastructure project in Europe and aims to help the UK catch up with other European countries with extensive high-speed rail.

The whole project, which will connect London Euston to Manchester, had been scheduled for final completion from 2035-2040.

But Harper said the section between the city of Birmingham and the town of Crewe around 60 miles to its north would be “rephased” by two years. He did not set a new completion date for the whole northern section linking Birmingham to Manchester.

He also said the section of rail linking HS2 to Euston station in central London would be deprioritised, with work focusing first on joining the line up to a newly-built but much less central hub in suburban north-west London.

“These are the difficult but responsible decisions we are taking, that put the priorities of the British people first, in controlling inflation and reducing government debt,” Harper said.

HS2 was expected to cost between 72 billion and 98 billion pounds at 2019 prices, but since then the bill has been pushed up by inflation – which ran at around 18% in the construction industry last year, affecting materials like timber, steel and concrete.

The 2019 budget was already a big jump from the 2015 estimate of 56 billion pounds. The project has also already been scaled back; in 2021 the government scrapped a planned link to Leeds, citing spiralling costs.

“Tens of thousands of jobs, and billions in economic growth are dependent on this project,” said Louise Haigh, transport policy chief for Britain’s opposition Labour Party. The government’s “chaos and chronic indecision” was holding back jobs, growth and costing taxpayers, she added.

Construction of the first part of HS2, from west London to Birmingham, is already underway.

(Reporting by Sarah Young and Sachin Ravikumar; editing by William James)



Source link

Previous Post

Operational Excellence: Principles & Methodologies

Next Post

Workload Management: How to Manage Your Team’s Workload

Next Post

Workload Management: How to Manage Your Team’s Workload

Recommended

Agility: Leadership From A Coach And A Senior Leader’s Perspective

2 weeks ago

Product Lifecycle Management (PLM): A Quick Guide

7 months ago

Britain Plans For Organised Blackouts In January – Bloomberg News

7 months ago

Google To Roll Out Anti-Disinformation Campaign In Some EU Countries

7 months ago

Volkswagen Postpones Decision On Gigafactory In Eastern Europe Beyond 2022

4 months ago

Strikes At Ukraine Nuclear Plant Prompt UN Call For Demilitarised Zone

8 months ago

project manager-59

© 2022Project Manager News Hubb All rights reserved.

Use of these names, logos, and brands does not imply endorsement unless specified. By using this site, you agree to the Privacy Policy and Terms & Conditions.

Navigate Site

  • Home
  • Project Management
  • Project Management Tools & Software
  • Contact

Newsletter Sign Up.

No Result
View All Result
  • Home
  • Project Management
  • Project Management Tools & Software
  • Contact

© 2022 Project Manager News Hubb All rights reserved.