​Ashurst advises Defra on £4.2 billion Thames Tideway Tunnel

Ashurst is advising the Department for Environment, Food and Rural Affairs (Defra) on the landmark Thames Tideway Tunnel project.

Thames Water has chosen newly-created special purpose company, Bazalgette Tunnel Limited (whose shareholders are INPP, Allianz, Amber Infrastructure Group, Dalmore Capital Limited, DIF and Swiss Life Asset Managers), as its preferred bidder to finance, build and own the London super-sewer project. The appointment is subject to formal designation and licensing by Ofwat.

The £4.2 billion project is designed to tackle the discharge of untreated sewage into the tidal River Thames through central London and to increase capacity in the London sewerage network. The tunnel will be approximately 25km long, 7.2m in diameter and will run up to 65 metres deep below the River Thames.

The Ashurst team is being led by infrastructure partner Philip Vernon and finance partner Derwin Jenkinson, assisted by senior associate Krista Payne and associate Sam Outtridge. Partners Patrick Boyle (finance) and Michael Smith (construction) are also advising. Regulatory advice is being provided by partners Euan Burrows and Neil Cunninghame. The team also comprises senior associates Karen Braakman, John Broadhead, Nicholas Ross-McCall and associate Alison Thomson.

Commenting on the deal, Philip Vernon, said:

"This is a pathfinder project, with the delivery model forming a potential blueprint for other major infrastructure projects. Modernising an essential aspect of London's infrastructure, this novel and complex project demonstrates how we continue to operate at the very forefront of the infrastructure market."