Bouygues Travaux Publics Murphy Joint Venture, which National Highways has appointed to build the 4km-long tunnel at the centre of the Lower Thames Crossing, is inviting tenders from prospective suppliers who could build the tunnel boring machine (TBM).
Last week chancellor of the exchequer Rachel Reeves announced that the Treasury planned to launch formal market engagement with potential investors next year to come up with the bulk of the money required for the project.
Reeves allocated a further 拢891m in her autumn budget to complete the publicly-funded works for the 聽Lower Thames Crossing. From then on, it is over to the private sector to take forward construction and operation.
She revealed that the government鈥檚 preferred financing option 鈥渁t this stage鈥� is the regulated asset base (RAB) model. The qualifier of "at this stage" indicates that plans are still liable to change pending the market engagement process.
According to the Financial Times this week, costs of the project have escalated from 拢9bn to 拢11bn in recent months, of which 拢3bn is likely to come directly from the public purse rather than vehicle tolls.
Despite so much uncertainty in the air, Bouygues Travaux Publics Murphy Joint Venture is shopping for a TBM 鈥� one that is 16.4 metres wide to bore one of the widest tunnels in the world, allowing three lanes of traffic in each direction. And at more than 4km in length, it will be the longest road tunnel in the UK.
The JV expects to purchase the TBM next year, with digging beginning in 2028, accordingly to current aspirations. Work on the northern tunnel portal, where the TBM will start its drive, will get under way next summer, according to National Highways (with or without financial resolution, it seems).
Matt Palmer, executive director of the Lower Thames Crossing project, said: 鈥淭he search for our giant tunnel boring machine is now on, putting us on track to open the Lower Thames Crossing in the early 2030s. We鈥檙e a step closer to delivering this vital piece of infrastructure, that will improve the journeys for millions and drive growth by creating jobs and new opportunities for business and trade.鈥�
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