US EditionUK's Thames Water set for over $13.5 billion rescue deal by Silver Point and Elliott, Bloomberg News reports
- Thames Water will launch a statutory 10-week public consultation on June 17 for its controversial sewage recycling scheme in Teddington, South West London.
- The project plans to withdraw up to 75 million litres of treated recycled water daily during drought periods from the River Thames upstream of Teddington Weir to help meet future increases in water demand.
- The water will undergo an additional treatment stage at Mogden Sewage Treatment Works, join Lee Valley reservoirs, and become drinking water, despite concerns from local MPs, residents, and campaigners.
- Environment Secretary Steve Reed approved the 2024 Water Resource Management Plan, estimating costs between £359.3 million and £535.3 million, while Lib Dem MP Munira Wilson called the decision "deeply disappointing."
- If approved, construction will start in 2029 and the scheme will operate by 2033, with Thames Water emphasizing community feedback and the project's role in securing water supplies for millions.
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UK's Thames Water set for over $13.5 billion rescue deal by Silver Point and Elliott, Bloomberg News reports
U.S. investment firms Silver Point Capital and Elliott Management are formulating a 10-billion-pound-plus ($13.53 billion) rescue package for Britain's Thames Water, Bloomberg News reported on Friday, citing people familiar with the matter.
·United Kingdom
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Thames Water Needs £10 Billion Under Elliott, Silver Point Plan
Funds including Silver Point Capital and Elliott Management are working on a rescue plan for British utility Thames Water that would total more than £10 billion ($13.5 billion), according to people familiar with the matter.
·United States
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