Highways England has been investigating two Kier Smart motorway contracts under construction.
The investigation is understood to have been prompted by rising outturn costs on the smart motorways programme and information supplied on Highways England’s special whistleblowing hotline. Read more here: Construction Enquirer
Whilst the report adds ‘A Highways England spokesperson said: “Highways England operates robust processes for procurement and ongoing monitoring and management of our entire supply chain, to ensure financial probity of taxpayers’ money.’ The is not our experience. Kier Highways have been evidenced to:
- exaggerate charges
- not comply with their contracts
- mislead Third Parties and the Courts
- withhold information and
- claim for costs not incurred.
The activities are known to the Authority who elect to ignore the facts to the detriment of drivers, fleets, hauliers (or their insurers) and the public purse. A recent email to the Authority on the subject can be read here.
12/2019 – ‘Shares in construction and house building firm Kier Group (LSE: KIE) have fallen by nearly 80% in 2019. The stock now trade on just two times 2020 forecast earnings. Either this is a bargain, or something is about to go badly wrong for Kier shareholders. My money is on the latter.’ Source: The Motley Fool