Morgan Sindall (LSE: MGNS) said contracts have been signed for the MVB joint venture to deliver the Lee Tunnel project for Thames Water, which is worth £400 million.
The JV comprises Morgan Sindall’s infrastructure service business Morgan Est with a 50% stake, VINCI Construction Grands Projets and Bachy Soletanche, which hold 30% and 20% respectively.
The project involves the construction of a seven metre internal diameter storage transfer tunnel, which is approximately 6,900 metres long, from Abbey Mills Pumping Station to Beckton Sewage Treatment Works. Work will last for five years and will start in April 2010. The project will help Britain comply with the Urban Waste Water Treatment Directive set by the European Union.
“This is an excellent win for our infrastructure services division and builds on our relationship with Thames Water. The appointment underlines the strength and expertise which Morgan Est has in tunneling,” said Morgan Sindall CEO Paul Smith. http://www.proactiveinvestors.co.uk/companies/news/12484/morgan-sindall-led-jv-appointed-for-400-mln-thames-water-tunnelling-project-12484.html
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