MegaProject 537: Transport for London proposes PPP model for Silvertown Tunnel
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Transport for London (TfL) has launched a public consultation on the Silvertown tunnel project, which is proposed to be developed through a PPP model. The consultation will start on 5 October 2015.
The tunnel, running under the Thames in London, would connect to the A1020 Silvertown Way/Lower Lea Crossing on the north side and to the A102 Blackwall Tunnel Approach on the south side. It is expected that the new infrastructure would, among others:
- cut down on queuing at the Blackwall Tunnel
- include user charging at the Blackwall and Silvertown Tunnels to manage demand and provide a source of revenue to help build the new tunnel
- provide an opportunity to create new cross-river bus links in east London
- improve road connections to and from Docklands and east London from South London
According to the Outline Business Case, the project would be developed on a design, build, finance and maintenance (DBFM) basis. The proposed concession would have a period of around 30 years. TfL are proposing to adopt an availability based structure where payments are based on the level of availability. Deductions are applied where the crossing is not available.
The total project investment is estimated at £750 million (US$1.155 billion).
The Silvertown Tunnel project is part of the east London River Crossings Programme. The programme is overseen by a Sponsor Group, chaired by the Managing Director of TfL Planning and attended by senior managers from TfL Strategy and Planning, Surface Transport and Corporate Finance.
The timeline for the project is:
- Autumn 2015: Statutory consultation
- March 2016: We apply to the Secretary of State for Transport for the DCO
- 2016-2017: Hearing and examination process
- Late 2017: Decision on the application expected
- 2018: Construction begins
- 2021/22: Earliest opening date of the new tunnel
Yesterday we reported that Pensions Infrastructure Platform (PiP) confirmed its investment in the £4.2 billion (US$6.48 billion) Thames tideway tunnel (TTT) project. It will be a 7.2 metre diameter 25 kilometre sewer tunnel running up to 65 metres below the River Thames.
To register to take part in the public consultation process, please, send an email to: email@example.com.