ODA figures reveal £24m extra earned by CLM since November
The Laing O’Rourke-led CLM consortium behind the Olympics construction project has seen its fee for delivering the job rise to £718 million.
The Olympic Delivery Authority’s (ODA) latest quarterly accounts figures reveal that CLM earned an extra £24 million since November for keeping costs down on the project.
Following the latest rise, the consortium’s project management fee is £718 million, with the overall development cost for the project expected to be £7.3 billion.
The CLM consortium consists of Laing O’Rourke, CH2M Hill and Mace.
O’Rourke and CH2M Hill have an equal stake of 40% with Mace owning the remaining 20%.
The ODA report stated the fee rises were “enhanced payments to CLM due to the strong progress of the project against agreed targets.
“CLM’s enhanced payments are based on performance and they are incentivised to drive down costs across the programme.”