A consortium of investors comprising funds managed by Allianz, Amber Infrastructure Group, Dalmore Capital and DIF, is in line to own, finance and deliver Thames Water's landmark Thames Tideway Tunnel project, also known as the 'super sewer'.
Thames Water has selected the consortium, which has formed a special purpose company Bazalgette Tunnel, as a preferred bidder on the project. The appointment of the infrastructure provider will be subject to formal designation and licensing by the water industry's economic regulator, Ofwat.
Twelve parties were invited to tender, culminating in what Thames Water described as "two highly competitive bids received in the final 'revise and confirm' round."
The infrastructure provider's responsibilities will include managing the contractors, who will construct the Thames Tideway Tunnel. The tunnel will stretch 25 km (15 miles), largely beneath the bed of the River Thames. The tunnel is required to tackle the discharge of untreated sewage into the tidal River Thames through central London and to significantly increase the capacity in the London sewerage network.
"We are convinced that this project will modernise a pivotal aspect of London's essential infrastructure and are delighted that Allianz can help to upgrade London's sewage system for 22nd century London", said Christian Fingerle, chief investment officer responsible for infrastructure investments at Allianz Capital Partners. "This investment will be a very important partnership between Allianz, our consortium partners, our contractors and Thames Water, working closely with the UK water regulator Ofwat and the Environment Agency to achieve a major improvement to London's iconic river."
Channels:SAA/ALM
People:Christian Fingerle
