What's Happening?
The Hyde Group has awarded a £3 billion main contractor framework covering construction and refurbishment projects across the UK. The framework is divided into seven lots based on project value and region, ranging from schemes under £20 million in London,
the South, and East, to projects over £50 million in any region. Contracts were awarded to multiple contractors, including Galliford Try Construction, J. Murphy & Sons, Wates Residential Construction, John Graham Construction, Hill Partnerships, and Lovell Partnerships. The framework is primarily for Hyde's use but may also be accessed by other public sector bodies.
Why It's Important?
This framework is crucial for the UK's construction industry as it provides a structured approach to managing large-scale infrastructure projects. By involving multiple contractors and SMEs, the framework ensures a diverse range of expertise and resources are available to meet the demands of various projects. The £3 billion nominal value provides sufficient headroom for external use, potentially benefiting other public sector bodies. This initiative is expected to enhance the UK's infrastructure, create jobs, and stimulate economic growth by facilitating efficient project execution across different regions.
What's Next?
The framework runs for an initial five years with an option to extend by a further two years. It will be administered by National Framework Partnership on Hyde's behalf. The successful implementation of this framework could lead to more collaborative efforts between public and private sectors, potentially setting a precedent for future infrastructure projects in the UK.
