Business
ISG’s collapse has despatched shockwaves by the UK construction sector, placing many initiatives at threat and placing a amount of subcontractors in a precarious space.
But while many commentators have centered on ISG’s £1.15bn-rate of executive initiatives, its non-public sector workload is even bigger.
In accordance with Glenigan, industrial, commercial and non-public housing initiatives on ISG’s books total more than £2.8bn.
Total ISG for the time being has initiatives totalling over £2.5bn on reveal and has been awarded contracts on a extra £1.7bn of work yet to commence.
This means that 33 awarded contracts, 57 initiatives in progress on-reveal and three imminent completion have been left up within the air. This entails:
- Fujifilm Diosynth Biotechnologies Facility in Billingham, Cleveland – a £200m contract
- Slough Recordsdata Centre Campus Phase 2, Berkshire – £200m
- Institute of Neurology for College College London – £158m
- A recordsdata centre for Vantage Recordsdata Centers in Ealing – £150m
- A recordsdata centre for Colt Recordsdata Heart Companies in Hillingdon – £150m.
ISG changed into also on 19 construction frameworks with a blended rate of more than £104bn.
Glenigan economic director Allan Wilen said: “ISG’s demise is decided to dampen overall industry workload within the near timeframe as purchasers survey contractors to total initiatives for the time being on reveal and as goal no longer too lengthy ago awarded initiatives are re-tendered. Its subcontractors and suppliers will be under increased monetary stress and contractors’ nationwide will want to overview and work with their very accumulate present chains to minimise monetary stress and steer definite of any extra loss of industry ability.”
Bought a story? Electronic mail news@theconstructionindex.co.uk