Thames Tunnel project gets delayed
The International Public Partnerships Limited has indicated that the Covid-19 pandemic and associated government guidance was likely to have an impact on the overall cost and schedule of the Tideway project.
Tideway has now published its assessment of the impact of Covid-19 and has indicated a GBP 233 million (US$ 305.68 million) impact on cost and a nine-month impact on the schedule. This translates into the estimated project cost increasing to GBP 4.133 billion (US$ 5.42 billion) and the completion date now forecasts to occur during the first half of 2025.
Tideway has also indicated that it is in discussions with Ofwat on a package of measures that would mitigate the financial impact of COVID-19 on the Company. Progress is being made in these discussions and full agreement is expected to be reached in the coming months.
Country updates
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August 25, 2020
DIF Capital Partners acquires 54% stake in 4th utility
DIF Capital Partners, through its DIF Core Infrastructure Fund II (DIF CIF II), has announced that it has completed the acquisition of a majority stake (54%) in 4th Utility. 4th Utility partners with...
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August 20, 2020
Legal adviser sought for policy framework in UK
The National Procurement Service in the UK is looking to implement a new framework agreement for the provision of solicitors services to the Welsh public sector. The framework agreement will cove...
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August 20, 2020
PIN issued for Solihull mixed-use development project
Solihull Metropolitan Borough Council in the UK has launched prior information notice (PIN) for a mixed-use development opportunity in the city. The project includes the potential development of ...
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August 14, 2020
INPP makes further investment in PPP school projects in UK
International Public Partnerships Limited has acquired an accretive additional interest in the Bradford and Lewisham Building Schools for the Future (BSF) Projects. INPP will commit a further GBP 3.6...
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August 13, 2020
RFQ for GBP 800 million regeneration project in the UK
Metropolitan Thames Valley Housing (MTVH) has published a contract notice for the GBP 800 million (USD 1.04 billion) Clapham Park Phase 2 Estate Regeneration Project in south London.
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