Tuesday, March 27th, 2012
A report by Thames Water has set out the business case for the Thames Tunnel to be built. London’s proposed super-sewer would create over 9,000 jobs if it gets through the consultation process, which would help the city through the current economic downturn.
The report entitled ‘Why does London’s economy need the Thames Tunnel’ claims that the massive project would create around 4,000 construction jobs in the capital, with a further 5,000 jobs created indirectly.
The construction of the tunnel is expected to begin in 2016, but ministers have yet to decide how the tunnel will be funded and how the project will be delivered.
The chief executive of Thames Water, Martin Baggs, stated:
“To retain its place as a world-leading business hub and tourist destination, London urgently needs the Thames Tunnel. As well as protecting the river and ensuring compliance with important legal standards, the project will also be a much-needed boost for the capital’s economy.
“It is set to create long overdue career and training opportunities for a whole new generation of young engineers. That’s not to mention the knock-on wealth-creating opportunities it will present for local businesses.”