Thames Water, Britain's biggest water and sewerage firm, has announced contract awards for up to £1.2billion of essential work to improve and maintain its ageing water pipes, sewers and other facilities over the next five years.
The new contracts mark the start of the new five-year regulatory period, April 2010 to March 2015, during which time Thames Water will invest nearly £5billion across London and the Thames Valley.
Martin Baggs, Thames Water's Chief Executive, said:
"In our continued drive to be more efficient for our 13 million customers we've completely changed the way we do our work. Instead of letting numerous small contracts to lots of providers, we're working with leading organisations to deliver the 'base load' of our investment programme for the next five years.
"This new approach has changed the way our contractors have bid for the work: they've formed joint ventures, each containing the required specialists. The way we've structured these programmes of work will also allow our contractors to plan further ahead and give them greater incentives to be efficient on cost and time.
"Our operational performance is better than ever right now - best-ever water quality*, best-ever sewage works compliance and leakage down 24 per cent in the past four years. Our new approach will help us build on these standards of excellence over the next five years."
The joint ventures awarded for Thames Water's base load contracts are:
The tender process for one remaining base load contract is still being finalised and will be awarded within the next fortnight.
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