The Thames Tideway Tunnel (TTT) represents a unique UK infrastructure investment opportunity. This major engineering investment that encompasses the design, construction, financing, ownership and operation of a 7.2m diameter, 25km tunnel that runs up to 65 metres below the river Thames in London. It is the largest single asset in the UK water sector. DIF has invested in the project as part of a consortium together with Allianz Capital Partners, Amber Infrastructure and Dalmore Capital.
- Investment date
- August 2015
- United Kingdom
- DIF III & IV
- Equity stake
Total capital expenditure on the tunnel will be ca. £4 billion to complete. Construction began in 2016 and is targeted to be completed in 2024. Once finished, the tunnel will incorporate a number of sewage inflow points and connect to the largest sewage treatment works in Europe. While TTT is designed to stop the discharge of untreated sewage into the River Thames, it will also significantly increase capacity of the outdated London sewer network that covers nine million customers and will result in a significant improvement in the water quality of the Thames.
The project includes state-of-the-art construction technology. The project benefits from a bespoke regulatory framework that allowed it to start generating index-linked revenue as soon as construction began.