Covid-19 adds nine months and £233m to Tideway
26 August 2020In an operational update to investors, Bazalgette Finance has revealed that construction work on Tideway will likely be completed in the first half of 2025 – nine months later than planned.
The revised handover date is attributed to the impact of the Covid-19 pandemic on Tideway’s operations.
The delay is also said to add a further £233m to the forecasted project cost which now stands at an estimated £4.133bn.
In its statement, Bazalgette Finance said: “Tideway is in discussions with Ofwat on a package of measures that would mitigate the financial impact of Covid-19 on the company. We are making progress in these discussions and we expect to reach a full agreement in the coming months.”
Other than ongoing essential works, construction on Tideway paused for a short period during the coronavirus lockdown. It recommenced at the majority of the company’s worksites in May, but at a slower pace due to the effect of social distancing compliance.
Dubbed London’s ‘super-sewer’, Tideway is currently the biggest water infrastructure project in Europe and is designed to prevent millions of tonnes of raw sewage entering the River Thames every year.
