ISG鈥檚 collapse has sent shockwaves through the UK construction sector, placing many projects in peril and putting a number of subcontractors in a precarious position.
But while many commentators have focused on ISG鈥檚 拢1.15bn-worth of government projects, its private sector workload is even greater.
According to Glenigan, industrial, commercial and private housing projects on ISG鈥檚 books total more than 拢2.8bn.
Overall ISG currently has projects totalling over 拢2.5bn on site and has been awarded contracts on a further 拢1.7bn of work yet to start.
This means that 33 awarded contracts, 57 projects in progress on-site and three imminent completion have been left up in the air. This includes:
- Fujifilm Diosynth Biotechnologies Facility in聽 Billingham, Cleveland 鈥� a 拢200m contract
- Slough Data Centre Campus Phase 2, Berkshire 鈥� 拢200m
- Institute of Neurology for University College London 鈥� 拢158m
- A data centre for Vantage Data Centers in Ealing 鈥� 拢150m
- A data centre for Colt Data Centre Services in Hillingdon 鈥� 拢150m.
ISG was also on 19 construction frameworks with a combined value of more than 拢104bn.
Glenigan economic director Allan Wilen said: 鈥淚SG鈥檚 demise is set to dampen overall industry workload in the near term as clients look for contractors to complete projects currently on site and as recently awarded projects are re-tendered. Its subcontractors and suppliers will be under increased financial pressure and contractors鈥� nationwide will need to review and work with their own supply chains to minimise financial stress and avoid any additional loss of industry capacity.鈥�
A Colt Data Centre Services spokesperson said: 鈥淚SG鈥檚 contract on our London 4 datacentre in Hayes completed earlier this month. We have now progressed to fit out the first phase of our development, as planned.鈥�
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