Morgan Sindall-led consortium MVB has reached financial close on the £417m Lee Tunnel scheme.
MVB, which includes Morgan Est, Vinci Construction Grand Projets, and Bachy Soletanche, has formally signed the contract with client Thames Water.
Morgan Est has a 50% stake in the JV, Vinci Construction Grands Projets 30% and Bachy Soletanche 20%.
The project involves the construction of a 7m-diameter storage transfer tunnel, which is approximately 6,900 m long, from Abbey Mills Pumping Station to Beckton Sewage Treatment Works.
Construction work will include two 25m-diameter shafts at Beckton, one 20m-diameter shaft at Abbey Mills, and a 38m-diameter off-line Tideway Pumping Station Shaft.
Work will start in April 2010 and is scheduled to run for five years.
The project will help Britain comply with the urban waste water treatment directive set by the European Union.
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