Johnnyboy11

With a Market Cap of £300m, net debt of £700m and a pension deficit of £800m, Carillion has failed, it's a Norwegian Blue. Yet the UK Government contracts with this corpse, using taxpayer money

weasel decentral

Dire straits aside, your assertion was they have under priced the job, with 2 other JV partners no less (probably under some kind of SPV) and will shortly be heading into a fire sale under administration.

Where as my reading of that JV is that the other 2 JV contractors will buy out the SPV and transfer the Carillion staff into their organisation to fulfill the contract if required. Potentially Carrillion will get some funds from the sale.

scrubbedexpat141

Sounds like a lot of risk, potentially. But also huge reward.

HS2 is going to be a mess, with the CH2M procurement issue recently, it just looks like classic UK politically unpopular sort of project delayed by very expensive, red-tape-bound bureaucracy at all levels of the government.

jam25mack

Ehhhh? Who procured CH2M?

scrubbedexpat141

CH2M pulls out of £170m HS2 deal following contract award row | Construction Enquirer

jam25mack

You know I didn't even hear about this. After a bit of reading is sounds like a bit of a storm in a tea cup. They pull out after the losing bidders complain as an ex-employee has started in HS2. They are so whiter than white is unbelievable (trust me) so at the first whiff of rumours they dropped out. They're still taking the lions share of the project though.

scrubbedexpat141

A fair complaint I think, bit too obvious, no?

jam25mack

Who knows. Actual attempt or coincidence....?

scrubbedexpat141

Their head of rail goes to head up a big bit of HS2 and they swiftly secure a massive contract.

I mean, I'm not saying anyone's stupid for believing in coincidences but when it walks like a Pope, talks like a Pope and ****s kids, then it's probably a Pope.

jam25mack

The fact that they already had a much larger part of the project and have been involved since day one probably has some sway....

As I say, CH2M are whiter than white.

scrubbedexpat141

Nobody in construction / engineering is whiter than white when it comes to winning mega contracts.

Bahtatboy

Looks like that point's arriving earlier than everyone thought.

Industry watchers had expected the guaranteed price for power from windfarms around Britain’s coast to come in somewhere between £70 and £80 per megawatt hour, below the £92.50 for a new nuclear power station at Hinkley Point.

But the “exceptionally low” results of a government auction on Monday for subsidy contracts show two offshore windfarms will be built for £57.50 per MWh, way below even the most extreme predictions. The price is half of what new offshore windfarms were being awarded just two years ago.

Those are't pie-in-the-sky, wishful-thinking figures: they're the ones which the major players (Innogy, Dong, etc) are agreeing to to generate power.


https://www.theguardian.com/environm...all-record-low

Johnnyboy11

Carillion having another bad day...

Bahtatboy

"Mr Bland of JP Morgan said contracts that have hurt Carillion include a hospital in Liverpool, a bypass in Aberdeen and a tramway in Sheffield. All three projects experienced delays of at least a year."

I know it's no laughing matter (people's livelihoods and investors' money at stake), but I couldn't repress an inward guffaw -- at some point in the future Carillion will be wishing dearly for only a year's delay.

Bahtatboy

Except Carillion aren't working on Hinkley...