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The Eurotunnel project is a major project of cooperation between the two England - France, the investor is the Channel Tunnel Group (CTG) and France Manche British France and embark. The main contractor for this project is a joint venture called Transmanche Link AnhPhap (TML). Eurotunnel is a project to build a railway under the world's longest sea strait connecting the two countries Britain - France. The Estimated project budget is only £ 2.8 Billion, tuy nhiên Actually the cost overrun to £ 10 Billion. Besides the actual completion time is exceeded over a year compared with the estimated completion time. It is clear that what is planned in theory does not always match the reality. This stems from several causes.
Right from the start, winning the CTG-FM was alleged là CTG-FM Had deliberately underestimated the cost of building a fixed link to win the concession. After CTG-FM was awarded a construction contract, the negotiation of design and construction contracts with construction companies affected by a broad outline of the contract by the banks made provisions in case contract becomes unacceptable. However, CTG-FM still one of những Contracts included as a draft along with the cost in the bid submission Estimates.
In theory, the construction work is designed in line with normal soil conditions, but the actual state pretty much the land makes it difficult for the construction, caused conflict between the parties, increase costs and affect the progress expected.
the level of assumption of costs, interest rates and inflation during the set project plans are seriously wrong. The fact these elements were far exceeds the original calculations.
One of the biggest reasons is the severe conflicts between Eurotunnel's board and TML during project implementation. This makes the parties intentionally or accidentally caused the delay in the implementation schedule and push costs upward exceed expected. Can summarize the main reasons are as follows: Undefined exact scope and implementation costs, shortage expected to change in the actual impact, weak in risk management activities , in the initial stage, the project has not been planned properly and the lack of a clear division of responsibilities between the parties ...
Question 2:
May 1986, TML has signed a construction contract with Eurotunnel customers when has not been established. By May the new Eurotunnel formally established, therefore, the charter called shares II - "Equity II" which has been delayed for too long so hurry Eurotunnel has signed the investment terms which express the Terms related to the mobilization of the CTG-FM loans negotiated before. They clearly did not grasp the intricate binding contract so after Eurotunnel had time to read, learn thoroughly about the contract and expressed his desire to change some terms, and canceled some part of the contract, the TML is not approved.
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