Procurement of the M25 private finance contract

Procurement of the M25 private finance contract
Author :
Publisher : The Stationery Office
Total Pages : 44
Release :
ISBN-10 : 0102965544
ISBN-13 : 9780102965544
Rating : 4/5 (44 Downloads)

Book Synopsis Procurement of the M25 private finance contract by : Great Britain: National Audit Office

Download or read book Procurement of the M25 private finance contract written by Great Britain: National Audit Office and published by The Stationery Office. This book was released on 2010-11-19 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: The slowness with which the Highways Agency's PFI contract to widen the M25 was taken forward resulted in higher financing costs in the credit crisis. Moreover, the Agency was slow to investigate a potentially cheaper alternative to widening. An 18-month delay in preparing and finalizing the widening procurement meant that the contract was let in May 2009 at the height of the credit crisis. This increased the net present cost of the deal by £660 million (24 per cent) to £3.4 billion. The case for PFI was less convincing than the Agency thought owing to shortcomings in its cost estimation process. The Government had announced in 2003 its intention to reduce congestion on the M25. The Agency was starting to carry out trials at that time of an alternative, potentially cheaper solution of hard shoulder running (allowing drivers to use the hard shoulder at times of peak congestion), first tested in Europe in 1996. The NAO estimates the savings from a conventionally procured hard shoulder running solution might range between £400 million and £1.1 billion. The Agency, however, doubted the technique's suitability for one of the sections of the M25 being widened which has high traffic flow and whether operation and maintenance savings could be achieved through conventional procurement


Procurement of the M25 private finance contract Related Books

Procurement of the M25 private finance contract
Language: en
Pages: 44
Authors: Great Britain: National Audit Office
Categories: Business & Economics
Type: BOOK - Published: 2010-11-19 - Publisher: The Stationery Office

DOWNLOAD EBOOK

The slowness with which the Highways Agency's PFI contract to widen the M25 was taken forward resulted in higher financing costs in the credit crisis. Moreover,
M25 private finance contract
Language: en
Pages: 48
Authors: Great Britain: Parliament: House of Commons: Committee of Public Accounts
Categories: Business & Economics
Type: BOOK - Published: 2011-02-08 - Publisher: The Stationery Office

DOWNLOAD EBOOK

In May 2009 the Highways Agency signed a 30 year private finance contract for widening two sections of the M25 motorway, including the Dartford Crossing, and ma
Treasury minutes on the nineteenth to the twenty first and the twenty third to the twenty seventh reports from the Committee of Public Accounts session 2010-11
Language: en
Pages: 56
Authors: Great Britain. Treasury
Categories: Political Science
Type: BOOK - Published: 2011-05-16 - Publisher: The Stationery Office

DOWNLOAD EBOOK

Dated May 2011. The reports published as HC 651 (ISBN 9780215556232); HC 688 (ISBN 9780215556363); HC 721 (ISBN 9780215556424); HC 687 (ISBN 9780215556530); HC
State-led Privatisation and the Demise of the Democratic State
Language: en
Pages: 239
Authors: Mike Raco
Categories: Political Science
Type: BOOK - Published: 2016-04-01 - Publisher: Routledge

DOWNLOAD EBOOK

For decades now we have been told that we are living through a governance revolution. Gone are the days when government agencies and bureaucrats told us what to
Public Private Partnerships and Constitutional Law
Language: en
Pages: 213
Authors: Nikiforos Meletiadis
Categories: Business & Economics
Type: BOOK - Published: 2018-12-07 - Publisher: Routledge

DOWNLOAD EBOOK

Annually, the government commits significant expenditure to a type of public contracts which are known as Public-Private Partnerships (PPPs) or the Private Fina