The newly-created, special purpose company Bazalgette Tunnel Limited will own, finance and deliver the landmark super sewer project.

The consortium consists of  funds managed by Allianz, Amber Infrastructure Group, Dalmore Capital Limited and DIF.

Bazalgette will also manage the contractors who will construct the 25km tunnel beneath the bed of the River Thames, from Acton in the west to Abbey Mills near Stratford in the east.

A joint venture between Laing O’Rourke and Ferrovial Agroman has landed the largest Central section drive worth £600m-£900m.

The Eastern section of the tunnel has been bagged by a Costain, Vinci and Bachy joint venture and is expected to cost £500m-£800m.

Another three-way consortium consisting of Balfour Beatty, BAM Nuttall and Morgan Sindall has picked up the shorter western tunnel drive, which is expected to be worth somewhere between £300m-£500m.