Award

Depreciated Replacement Cost Valuation

TRANSPORT FOR WALES

This public procurement record has 1 release in its history.

Award

03 Feb 2021 at 10:48

Summary of the contracting process

Transport for Wales has completed a tender process for the valuation consultancy services necessary for assessing the Depreciated Replacement Cost of the Core Valleys Lines rail network. The planning and procurement method was an open procedure, with the tender titled "Depreciated Replacement Cost Valuation". This process took place across the Welsh rail network, with an emphasis on delivering valuable insights for financial reporting for the year ending 31 March 2021. The contract has a value of £300,000 and was signed on 21 December 2020, with the awarded supplier being Atkins.

This tender presents opportunities for growth particularly for consulting firms specialising in financial valuation and technical analysis within the transport sector. Businesses focused on developing valuation models, providing asset quantification services, or carrying out financial consultancy would be well-suited to compete in such processes. The involvement of experienced consultants aids Transport for Wales in optimising its asset valuation, thus creating a conducive environment for industry players to showcase their expertise and secure contracts in similar future projects.

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Notice Title

Depreciated Replacement Cost Valuation

Notice Description

Transport for Wales (TfW) has procured the services of an advisor to provide evidence to support the valuation assessment of the Core Valleys Lines rail network for financial reporting purposes for the financial year ending 31 March 2021 and future periods.

Lot Information

Lot 1

Transport for Wales (TfW) has procured experienced consultants to undertake valuation of assets and provide information on the Depreciated Replacement Costs across our Core Valley Lines (CVL) in South Wales. The DRC valuation will be reported in the financial statements of Transport for Wales and will be used for consolidation within the Welsh Government group financial statements. The appointed advisor is expected to provide input in the following areas: 1 - Developing an excel based valuation model, 2 - Developing asset unit costs based on the asset categories 3 - Quantifying risk and other uplifts 4 - Assisting TfW in quantifying the useful economic lives of the assets 5 - Assisting TfW in quantifying the remaining useful economic life of the assets 6 - Undertaking an annual adjustment to the asset value

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-028fad
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/002135-2021
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

71 - Architectural, construction, engineering and inspection services

79 - Business services: law, marketing, consulting, recruitment, printing and security


CPV Codes

71600000 - Technical testing, analysis and consultancy services

71621000 - Technical analysis or consultancy services

79419000 - Evaluation consultancy services

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
£300,000 £100K-£500K

Notice Dates

Publication Date
3 Feb 20215 years ago
Submission Deadline
Not specified
Future Notice Date
Not specified
Award Date
21 Dec 20205 years ago
Contract Period
Not specified - Not specified
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Cancelled
Awards Status
Active
Contracts Status
Active

Contracting Authority (Buyer)

Main Buyer
TRANSPORT FOR WALES
Contact Name
Leanne Millard
Contact Email
procurement@tfw.wales
Contact Phone
+44 2921673434

Buyer Location

Locality
PONTYPRIDD
Postcode
CF37 4TH
Post Town
Cardiff
Country
Wales

Major Region (ITL 1)
TLL Wales
Basic Region (ITL 2)
TLL5 South East Wales
Small Region (ITL 3)
TLL51 Central Valleys and Bridgend
Delivery Location
TLL Wales

Local Authority
Rhondda Cynon Taf
Electoral Ward
Pontypridd Town
Westminster Constituency
Pontypridd

Supplier Information

Number of Suppliers
1
Supplier Name

ATKINS

Open Contracting Data Standard (OCDS)

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The Open Contracting Data Standard (OCDS) is a framework designed to increase transparency and access to public procurement data in the public sector. It is widely used by governments and organisations worldwide to report on procurement processes and contracts.

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