Super sewer contractors safe from Thames Water crisis
Contractors working on the £4.1bn Thames Tideway project will still get paid whatever happens to debt stricken client Thames Water.
The company told the Enquirer that the massive infrastructure project will not be hit by the doubts over its financial future.
A debt mountain of £14bn has left Thames Water on the brink of possible administration as it scrambles for cash from investors.
Some of the industry’s biggest names including Ferrovial, Laing O’Rourk, BAM Nuttall,Morgan Sindall, Balfour Beatty,Costain, Vinci and Bachy Soletanche are working on the super sewer project.
Thames Water former chief executive Sarah Bentley left suddenly this week as the firm fights for its future amid restructuring plans.
One source close to the talks said: “Obviously it’s a major crisis but whatever happens the firms working on major infrastructure projects will be looked after otherwise no-one will work for whoever owns Thames Water in the future again.”