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HOCHTIEF Joint Venture to deliver GBP 400 million London Power Tunnels project Press release Essen 16.12.2019 A HOCHTIEF-led joint venture has been awarded with a GBP 400 million contract to deliver the second phase of the London Power Tunnels (LPT2) project. Scheduled to start in March next year, this six-year project will see the construction of a 32.5 kilometers tunnel for the energy supply of London. The project has been developed to minimise disruption for Londoners, eliminating the need to dig up the existing cable infrastructure, which is now 50 years old and reaching the end of its life. Executive Director, Nicola Shaw from National Grid says: “This contract award is a major milestone in the next phase of the London Power Tunnels project and will help ensure the capital has secure, reliable access to electricity to meet the energy demands of the future.” HOCHTIEF CEO Marcelino Fernández Verdes says: “We are delighted to contribute with our long-standing expertise in tunneling works in London to the city’s energy grid modernisation.” For this project, HOCHTIEF has set up a 50%/50% joint venture with J. Murphy & Sons Ltd. The two companies have a strong joint track record delivering projects such as the Channel Tunnel Rail Link C320 and the Crossrail C310 Thames Tunnel project. In December 2018, a HOCHTIEF joint venture had already won a contract to build a 14-kilometres power supply tunnel below the city of Stockholm. Both contracts underline the group’s tunneling expertise as well as a strong competitive position to deliver innovative solutions to clients from the utility industry. |
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