Thames Water to Spend £400 Million More to Upgrade London Supply
- Projects will benefit 16 million customers when done by 2032
- Company under scrutiny for dividend payments and sewage leaks
The headquarters of Thames Water in Reading, UK.
Photographer: Hollie Adams/BloombergThis article is for subscribers only.
Thames Water will spend another £400 million ($508 million) upgrading a pair of treatment works to secure the drinking supply for 16 million customers in London.
Industry regulator Ofwat approved further funding under the current spending plan that runs to 2025, according to a Thames Water statement Tuesday. The upgrades at Coppermills and Hampton plants will replace aging infrastructure and build new treatment capabilities, the company said. The projects are due to be completed in 2032.