6th Apr 2020 18:52
(Alliance News) - Pires Investments PLC said Monday its investee Ambisense Ltd has been involved in the preliminary ground surveys in support of Highways England's planned Lower Thames Crossing.
Pires holds the investment through its interest in Sure Valley Ventures. Pires holds a 13% stake in SVV.
The project - worth between GBP5.3 billion and GBP6.8 billion - encompasses a new dual-carriageway and tunnel system linking Essex and Kent. Ambisense said the infrastructure project is the biggest single road construction project since the M25 motorway encircling almost all of Greater London was completed more than 30 years ago.
Ambisense Chief Executive Stephen McNulty said: "Ambisense is delighted to get involved with such a strategic important infrastructure project in the UK. The project is and will be an example of how technology can be successfully woven into incumbent industry business-models and used to support the project team in the management and mitigation of environmental risk."
Ambisense has been contracted to facilitate the management of environmental risk through the combined use of their environmental analytics platform, Ambilytics, and connected hardware devices, specifically the continuous monitoring of groundwater and ground gasses.
Shares in Pires Investments closed 2.0% lower in London on Monday at 2.01 pence each.
By Paul McGowan; [email protected]
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