The Thames Tideway project has been delayed by nine months and an additional £233m has been added to the project costs.
In an update to investors, trading company Bazalgette Finance said its latest modelling indicates that construction work is now likely to be completed in the first half of 2025, and costs are forecasted to hit £4.1bn.
The project’s annual report, published in June, stated that Thames Tideway’s cost estimate had risen to £3.9bn and handover had been pushed back three months to June 2024.
The impact of the coronavirus pandemic on operations has been cited as the cause of the latest delay.
Tunnelling restarted on the project, which will run from Stratford in east London to Action in the west of the city, in May, after all but essential work was halted in March.
The 25km ‘super sewer’ is being constructed by a Bam, Balfour Beatty and Morgan Sindall joint venture.
A large tunnel boring machine, which is to be used to create the final 5.5km stretch of tunnel, arrived in central London by boat last month.
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Its just amazing how these mega companies just report flippantly, we require more billions to complete the project. How are they allowed to bid for work when their for-casting is so poor. If most other construction companies performed this way they would be laughed out of the ball-park. The quantity surveyors and Estimators for these mega companies, should really hold their heads in shame. But I bet the top executives salaries have been inflated to match construction costs. Again London spends, spends whilst other parts of the country with urgent and equell projects get ignored. North West Consultant.