Bazalgette Equity Ltd, the ultimate holding company on behalf of the Tideway group of companies, has gone out to tender with a contract for accounting, auditing and other fiscal services worth up to £2 million.
Bazalgette Tunnel Ltd (BTL), trading under the name of Tideway, began operating as an independent regulated private company in August 2015 when Ofwat awarded the company the licence to design, build, commission and maintain the Thames Tideway Tunnel.
Ofwat designated Bazalgette Tunnel Ltd as the infrastructure provider (IP) wholly responsible for the financing, construction, delivery, maintenance and operation of the Thames Tideway Tunnel. The IP is a separate self-standing, independent utility.
Bazalgette Tunnel Ltd’s immediate parent company is Bazalgette Holdings Ltd, which is in turn wholly owned by Bazalgette Ventures Ltd, and its ultimate holding company is Bazalgette Equity Ltd.
The Tideway group of companies requires a number of services to meet statutory and regulatory audit requirements - in addition, other related or advisory services may be required on an ad-hoc basis.
Under the Ofwat licence, as the licensed entity BTL is required to act and report as if it were a listed entity and the licence requires a number of regulatory audits in line with other water companies.
The initial term of the contract is one year with options to extend for up to nine further years.
Time limit for receipt of tenders or requests to participate is 8th September 2016 – click here to access the tender documentation.
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