Bazalgette Finance PLC COVID-19 Update (9028H)
27 März 2020 - 1:14PM
UK Regulatory
TIDM38LO TIDMTTM
RNS Number : 9028H
Bazalgette Finance PLC
27 March 2020
27 March 2020
Bazalgette Finance plc
COVID-19 Update
Bazalgette Finance plc is providing an update in respect of
Bazalgette Tunnel Limited, trading as Tideway, the Company
delivering the Thames Tideway Tunnel, London's new 'super sewer',
which will prevent millions of tonnes of sewerage entering the
River Thames.
Our number one priority is the health, safety and wellbeing of
our workforce and the wider public. To ensure we can undertake our
work safely and within Public Health England guidelines we have
temporarily reduced activities across the Tideway project with only
safety-critical and essential work continuing on Site at the
present time. However, we continue to work with our contractors to
progress design, consenting and method planning to ensure the
efficiency of future works. Where possible we will bring forward
work that can be done remotely. We will continue to keep the
situation under review based on the latest official advice and in
consultation with our regulators and the government.
Strict health and safety measures are in place to protect those
who are continuing to work. We have also taken steps to support our
supply-chain during this uncertain time.
Tideway has reached a point of financial resilience, where
sufficient liquidity has been secured to more than cover the
currently forecast construction costs. The Company benefits from a
supportive regulatory framework and a government support package
during construction.
For further information, please contact:
investor.relations@tideway.london
press@tideway.london
Hannah Shroot 07867 469 037
Bazalgette Finance plc
Cottons Centre
Cottons Lane
London
SE1 2QG
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END
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