The Department for Environment, Food & Rural Affairs has published its cost benefit analysis of the Thames Tideway Tunnel project1.
It concludes that best estimate of the whole life cost of the 25km sewer is 拢4.1bn and the whole life benefits are somewhere between 拢7.4bn and 拢12.7bn.
Environment Minister Rory Stewart leapt upon the higher figure to justify the controversial project, and added a little on top.
鈥淭his new research reveals the tunnel will bring up to 拢13bn worth of benefits to the capital鈥檚 natural environment,鈥� he said. 鈥淚t will prevent millions of tonnes of sewage flowing into the river every year and it will mean we will have cleaner water for all to enjoy and improved water quality to better protect the Thames鈥� precious marine wildlife.鈥�
Work on the tunnel is set to begin next summer and will update the capital鈥檚 150-year-old sewerage system now operating close to capacity, resulting in sewage overflowing into the river on average once a week.
The project had been expected to have reached financial close by now.
Contractors have also been selected although no deals finalised yet. BMB JV (BAM Nuttall, Morgan Sindall and Balfour Beatty) have the West section; FLO JV (Ferrovial Agroman UK and Laing O'Rourke Construction) have the Central contract; and CVB JV (Costain Vinci Construction Grands Projects and Bachy Soletanche) have the East contract.聽 Construction is expected to start in 2016 and reach completion by 2023.
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