Allianz invests billions in London's impressive sewage tunnel!

Allianz invests billions in London's impressive sewage tunnel!

The Thames Tideway Tunnel, a key infrastructure project in London, is about to be handed over to the utility company Thames Water, which is scheduled for 2023. The investor consortium, led by Allianz Global Investors, was awarded the contract to build and finance the 5.4 billion euro project ten years ago. Overall, capital was invested by Allianz Lebensversicherung, Allianz Private Krankenversicherung and other institutional investors. The tunnel represents a significant advance in wastewater management to prevent environmental pollution from untreated wastewater.

The Thames is the main source of water in the United Kingdom and serves as the country's largest water supplier. To improve its health, extensive work on the sewage system is required. The Thames Tideway Tunnel, also known as the Super Sewer, is a milestone in this process. It stretches 25 kilometers long and runs mostly under the River Thames, with a diameter of 7.2 meters, which is roughly the width of three London buses.

Technical details and construction history

The tunnel was opened by King Charles III in early May 2023. recognized and is designed for an operating life of 120 years. Construction began in 2016 and was completed in 2022, despite isolated delays due to the Covid pandemic. During the excavation work, construction workers uncovered significant archaeological finds, including Viking longboats, adding additional historical value to the project.

With a maximum depth of 67 meters, the tunnel will be able to hold 1.6 million cubic meters of water. It plays an essential role in ensuring that the sewage system does not overflow during heavy rainfall and that untreated wastewater does not flow into the Thames. Since autumn 2024, the tunnel has already collected seven million cubic meters of wastewater during heavy rains. This shows the urgency and success of the project.

Financial aspects and other projects

Andreas Lindner, the chief investor at Allianz Lebensversicherung, emphasizes the important role of private investments in public infrastructure. Allianz Lebensversicherung has invested approximately 100 billion euros in alternative investments, including infrastructure investments and renewable energy, for over 10 million customers. Another significant investment is the “Neu Connect” project, which will create the first direct connection between the German and British electricity grids and is estimated to cost 2.8 billion euros. This 725 kilometer long power line is scheduled to be operational by 2028.

In summary, the example of the Thames Tideway Tunnel shows how critical private investment is becoming for the development and modernization of public infrastructure to meet growing environmental and utility demands.

Further information about this project can be found at Insurance magazine and Thames Water be found.