Economy

Last updated: 28 April 2017

Economy

Objective 3: Improved competitiveness and vitality for London

A modernised sewerage network underpins the capital’s general economic prosperity. The economic benefits will be felt across many areas. The Mayor’s London Plan says that London’s population is set to increase by up to two million by 2036, and the capital will require between 49,000 and 62,000 more homes each year. It is vital that the sewerage network that will serve these new homes is upgraded.

There are several more parts of London’s economy that will benefit from the tunnel’s construction:

  • A vibrant and ecologically sound River Thames will increase its appeal for tourism and transport. By protecting the River Thames ecosystems, the project will help to
    preserve and sustain the commercial fishing industries through healthy marine life and the jobs that go with it
  • It will deliver a boost to employment, creating more than 4,000 direct, sustainable jobs during construction
  • Dozens of the capital’s small and medium sized businesses will join Tideway’s supply chain

By caring for the river, the project will promote the capital’s global reputation as a world-class trading centre. The project will also improve the economic competitiveness of the wider UK economy, with contracts awarded across the country for materials and services, and we will track this spend to show this wider benefit.

Objective 4: Contribute to the rejuvenation of London’s river economy

Another key economic legacy objective is to contribute to the rejuvenation of London’s river economy, both recreationally and commercially, supporting the Mayor of London’s strategy.

The project’s use of river transport will be on a scale unprecedented in modern times. We have committed to transport 90 percent of tunnel spoil—about 4.2 million tonnes—by river. This will require a major modernisation of the fleet of commercial boats operating on the river, which we will seek to encourage through our procurement process.

We will also support the development of river transport-related skills. Tideway is a key initial member of the new Thames Skills Academy, along with the Port of London Authority, Transport for London and the Company of Watermen and Lightermen (CoWL). This newly established Group Training Association will deliver modern, high-quality training to a new generation of river workers, providing transferable skills to subsequent projects and roles. 

Objective 5: Improving the UK’s exportable knowledge base; encourage innovation 

We will build on the excellent work of other major infrastructure projects and help create a springboard for the UK workforce and companies to become world-class. Not only will our innovations be shared with the industry so future projects may benefit, but we have helped create a new web-based forum, the Infrastructure Industry Innovation Platform (i3P), to achieve this goal.

We will actively encourage innovation through the supply chain and ensure that small and medium sized enterprises have the best opportunity to get involved. For example, by engaging with the supply chain and enhancing their knowledge and skills through mentoring workshops. We will promote best practice, delivering the principles of the construction industry’s Fair Payment Charter and supporting a new responsible procurement handbook to ensure these practices are passed onto other projects. 

Case Studies 

Tideway Legacy case studies_Economy
> Supporting local business - 'Meet the buyer'

Economy Our Commitments

  1. Provide London’s essential infrastructure through an enhanced sewerage system that supports growth
  2. Remove the immediate risk of EU imposed infraction fines
  3. Create more than 4,000 direct, sustainable jobs
  4. Create a visible, informed and engaged supply chain that can compete for contract opportunities
  5. Demonstrate Tideway is supporting the UK economy
  6. Use river transport to remove the majority (90 percent) of material excavated to create the main tunnel
  7. Support the development of river transport related skills through Thames Skills Academy
  8. Encourage modernisation of marine equipment through our procurement process
  9. Seek opportunities to support the continued use of river infrastructure, such as enhanced river wall
  10. Engage with local businesses, small and medium sized companies and social enterprises, helping them to grow their skills and opportunities
  11. Offer sustainable employment either through retention and progression on Tideway or through transition from and to other major projects
  12. Continue to support the Tunnelling and Underground Construction academy (TUCA)
  13. Share our innovations with the industry so they can benefit future projects
  14. Design a procurement approach that will encourage innovation
  15. Create commercial arrangements that encourage innovation and shared risk
  16. Deliver the principles of the Fair Payment Charter
  17. Support ethical sourcing practices in the supply chain

Supply chain opportunities

Please refer to our monthly update to find out what procurement opportunities are available. 

Our Legacy

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Economy page_tab            People page_tab 

Place page_tab            Legacy Brochure .pdf_tab 

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