Tideway Reports on Year of Progress

RNS Number : 1211V

International Public Partnership Ld

04 April 2019

 

tideway REPORTS ON YEAR OF PROGRESS

4 April 2019

International Public Partnerships Limited ('INPP', 'the Company'), the listed infrastructure investment company, notes Tideway's announcement reporting an update on the project.

Construction progress on Tideway continues in line with expectations with c.40% of the project now complete and remains on track to be delivered in 2024.  Horizontal tunnelling began in late 2018 and the first kilometre from Battersea to Chelsea has now been completed.   

Tideway's announcement notes that their overall cost estimates have been updated. Tideway have confirmed that there will be no change to the original estimated costs for Thames Water bill payers and no further funding is required to complete the project. The changes to costs remain in line with INPP's projections and Tideway remain confident that the project will be delivered within its expectations.

Please see Tideway's release for more information: www.tideway.london

ENDS.

For further information:

Erica Sibree/Amy Joslin                                                                [phone]/0587

Amber Fund Management Limited                                                         

Hugh Jonathan                                                                               [phone]

Numis Securities            

Ed Berry/Mitch Barltrop                                                               [phone]/1039
FTI Consulting

About International Public Partnerships (INPP):

International Public Partnerships ('INPP') is a listed infrastructure investment company which invests in global public infrastructure projects and businesses, which meets societal and environmental needs, both now, and into the future.

INPP is a responsible, long-term investor in 130 infrastructure projects and businesses, including utility and transport businesses, transmission projects, schools, courts and police headquarters in the UK, Europe, Australia and North America.  INPP seeks to provide its shareholders with both a long-term yield and capital growth.

Amber Infrastructure Group ('Amber') is the Investment Adviser to INPP and consists over 120 staff who are responsible for the management of, advice on and origination of infrastructure investments.

Visit the INPP website at www.internationalpublicpartnerships.com for more information.

Important information

This announcement contains information that is inside information for the purposes of the Market Abuse Regulation (EU) No. 596/2014.

This announcement is an advertisement. It does not constitute a prospectus relating to the Company and does not constitute, or form part of, any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any shares in the Company in any jurisdiction nor shall it, or any part of it, or the fact of its distribution, form the basis of, or be relied on in connection with or act as any inducement to enter into, any contract therefor.
 

Forward-looking statements are subject to risks and uncertainties and accordingly the Company's actual future financial results and operational performance may differ materially from the results and performance expressed in, or implied by, the statements. These forward-looking statements speak only as at the date of this announcement. The Company, Amber and Numis Securities expressly disclaim any obligation or undertaking to update or revise any forward-looking statements contained herein to reflect actual results or any change in the assumptions, conditions or circumstances on which any such statements are based unless required to do so by the Financial Services and Markets Act 2000, the Prospectus Rules of the Financial Conduct Authority or other applicable laws, regulations or rules.

 

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