A Morgan Est and Vinci Construction Grands Projets joint venture has achieved financial close on the £417 million Lee Tunnel.
The MVB consortium, which also includes Bachy Soletanche, today announced that contracts have been signed with Thames Water for the project.
Morgan Est has a 50 per cent interest in the JV, Vinci Construction Grands Projets has 30 per cent and Bachy Soletanche 20 per cent.
The project involves the construction of a seven metre internal diameter storage transfer tunnel, which is approximately 6,900 m long, from Abbey Mills Pumping Station to Beckton Sewage Treatment Works.
Works include the construction of two, 25 m internal diameter shafts and one 20 m shaft (two at Beckton and one at Abbey Mills) and a 38 m diameter off-line Tideway Pumping Station Shaft.
Work will start in April 2010 on the five-year project, which will help Britain comply with the urban waste water treatment directive set by the European Union.