Tideway ups project cost estimate 8%

The company financing and carrying out the construction of the Thames Tideway Tunnel, Bazalgette Tunnel, has upped its cost estimate for the project by 8% to £3.8bn.

The hike, the company said, falls within the estimated cost range to each Thames Water customer of £20-£25 a year. In a statement Bazalgette said the “first and most unpredictable phase of the project,” was complete and it required “no further funding,” as a result of the increased cost estimate.