Construction and Infrastructure

Land Securities and Canary Wharf Group have agreed a £500 million joint venture to develop London’s next large skyscraper.

Canary Wharf Group, the owner of the Docklands estate, will buy half the 690,000 square foot tower development for approximately £250 million, and will act as construction manager on the project.

The joint venture will be backed by sovereign wealth from China and Qatar.

The 150 metre-high, 37-storey skyscraper at 20 Fenchurch Street, EC3, is known as the Walkie Talkie due to its concave shape.

The German insurance giant Allianz is set to make a £2 billion bid for the Channel Tunnel rail link, it has been reported.

Allianz is one of a number of groups planning to bid for the 68-mile stretch of railway running from London to Folkestone in Kent. Abu Dhabi Investment Authority, Eurotunnel and Hong Kong-based CKI are understood to have formed other consortia that are also planning to bid.

UK airport operator BAA will have to sell two of its airports after the Court of Appeal rejected its claim of regulatory bias during an investigation by the Competition Commission.

The company will now be forced to sell off Stansted and either Glasgow or Edinburgh airports, the High Court has ruled. It is thought this will allow for greater competition, better service and a greater choice of flight destinations.

Nigeria has approved a $2.5 billion offer for its main fixed-line telecoms group Nitel, it has been announced.

However the government is insisting that the winning consortium come up with a $750 million down-payment to secure the sale.

The consortium will have 10 days to pay 30 per cent of its offer—or $750 million—from the date it receives an official demand for payment. It will then have 50 days to pay the balance.

Eurostar International has announced the award of a £700 million contract for 10 new trains to German manufacturer Siemens.

Siemens will supply Eurostar—which operates high-speed trains between London and the continent—with 10 Velaro e320 trains. Designed by Italy’s Pininfarina, the trains will carry more than 900 passengers at a top speed of 320 kilometres per hour. They will also be capable of travelling on other networks, as Eurostar makes plans to expand into Germany and the Netherlands.

RBH Group is poised to begin work on Teachers Village, a residential development in the historical center of Newark. Company president Ron Beit talks to Gay Sutton about his vision for kick-starting wider urban regeneration.

Winston Churchill said, “To improve is to change; to be perfect is to change often.” Rob Harris investigates the Linbeck Group, a company that has adopted innovation as one of its organizational core policies and has included in its journey new tools and processes through “Virtual Design and Construction”.

Construction spending in the US was up slightly more in August than had been expected, driven by an increase in public sector construction funded by federal money.

According to figures released by the Commerce Department, total construction spending rose to $811 billion, up 0.4 percent from July, on a rolling 12 month basis. The picture is still quite bleak, however, compared to a year ago when construction spending reached $902 billion in the 12 months leading to August 2009.

A public-private partnership (PPP) project for police facilities in the Canadian province of Ontario has been awarded to German-owned HOCHTIEF Concessions.

Its subsidiary HOCHTIEF PPP Solutions North America has been contracted to design, build, finance and maintain a total of 18 provincial police facilities.

HOCHTIEF PPP Solutions has a 50 percent stake in the project company Shield Infrastructure Partnership. Over the 30-year term of the agreement, the project has a contract volume of C$412 million. The investment volume is C$117 million.