Considerably behind schedule and facing some serious competition from the also NR sponsored GBRF/BRUSH/MTU Class 73 Rebuilding program currently going on in Loughborough. It'll be interesting to see how the two compare though, both with 2 73s undergoing rebuilding - The late running RVEL option see's the 73s rebuilt with 2 Cummins 700HP QSK19 Engines, the GBRF version with 1 probably smaller MTU 12V 4000 R41 engine.
But, I wonder what the future will hold for 'The Royal Alex'. On paper, the GBRF/BRUSH option does seem a better bet, and RVEL does have several other spare Class 73s in storage as well. The poor thing does look a right state though.