FRANKFURT, July 14 (Reuters) - A consortium led by German insurer Allianz has been selected as the preferred bidder for a 4.2 billion pound ($6.5 billion) investment in London’s new so-called “super-sewer”.
The group bidding for the landmark Thames Tideway Tunnel also includes Amber Infrastructure, Dalmore Capital and DIF, Allianz said in a statement on Tuesday.
The Allianz consortium prevailed against initially 12 competitors in the tender, which had culminated in an neck-and-neck race between the Allianz-led group and a consortium comprising Universities Superannuation Scheme, Borealis, M&G’s Infracapital unit, and Innisfree.
The process to provide investment for the Thames Tideway Tunnel was formally launched in spring 2014, with construction work due to begin in 2016. The 7.2 metre-wide and 25 kilometer long tunnel is aimed at reducing the tens of millions of tonnes of sewage that overflow into London’s River Thames every year. ($1 = 0.6469 pounds) (Reporting by Arno Schuetze; Editing by Ludwig Burger)