14th Jul 2015 06:24
LONDON (Alliance News) - International Public Partnerships Ltd on Tuesday said the Bazalgette Consortium, of which it is a part, has been named preferred bidder for the GBP4.2 billion Thames Tideway Tunnel Project in London.
The FTSE 250-listed infrastructure investment company said it will invest GBP210 million in the project, with the rest of the risk capital to be funded by the other partners in the consortium.
The other partners include German insurer Allianz AG, Amber Infrastructure Group, Dalmore Capital Ltd, DIF and Swiss Life Asset Managers.
INPP said it will work with the stakeholders on the project, including Thames Water, the UK Department for Environment, Food and Rural Affairs and UK water industry regulator Ofwat on the licence award, which is expected to made this summer.
The project is a new part of the sewer network which will carry sewage and storm water discharges from the broader London sewerage system.
By Sam Unsted; [email protected]; @SamUAtAlliance
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