The organisation

Last updated: 11 July 2016

The organisation

Bazalgette Tunnel Limited (BTL), is the licensed Infrastructure Provider set up to finance, build, maintain and operate the Thames Tideway Tunnel. From Licence Award, BTL trades and is known to the public as 'Tideway'.

Tideway is owned by a consortium of investors that comprises Allianz, Amber Infrastructure, Dalmore Capital and DIF. Our investors have extensive experience of investing in and managing a wide range of infrastructure assets in the UK and overseas. More than 1.7 million UK pensioners have an indirect investment in Tideway through UK pension funds managed by our investors. The consortium's backing fulfils a key component of the HM Treasury's National Infrastructure Plan, designed to finance the development of UK infrastructure with the support of highly experienced private investors.

Tideway employs more than 400 highly experienced professionals to deliver the project, together with its four main delivery partners:

The construction in the west region will be delivered by a joint venture of BAM Nuttall Ltd, Morgan Sindall Plc and Balfour Beatty Group Limited. This contract is known as Tideway West, with work taking place from Acton to Fulham.

The construction in the central region will be delivered by a joint venture of Ferrovial Agroman UK Ltd and Laing O'Rourke Construction. This contract is known as Tideway Central, with work taking place from Fulham to Blackfriars.

The construction site in the east region will be delivered by a joint venture of Costain Ltd., Vinci Construction Grands Projets and Bachy Soletanche. This contract is known as Tideway East, with work taking place from Bermondsey to Stratford.

Finally, the System Integration contract has been awarded to infrastructure support service provider, Amey, which will be responsible for providing process control, communication equipment and software systems for operation, maintenance and reporting across the Thames Tideway Tunnel system.

They will now mobilise their teams to start the main construction work in 2016, which is due to take seven years to complete.

In our Licence, Ofwat has set a regulatory baseline of £3,144m (in 14/15 prices) for the works that Tideway will deliver. At Licence Award, Tideway’s management produced an updated cost estimate including Direct Works of £1,855m (Main Works Contractors, System Integrator and Programme Wide), Indirect Costs of £669m, Contingency of £526m, and costs during Handover and Acceptance of £94m.

Tideway Information

Boards terms of reference

The board and board committee terms of reference.

People

Sir Neville Simms
Chairman


Andy Mitchell
Chief Executive Officer