Welsh civil engineering firm Jones Bros Civil Engineering has secured a multi-million pound contract to build a major reservoir in south east England as part of a joint commercial venture. The Ruthin-headquartered business and West Sussex-based engineering contractor Mackley have united as Future Water MJJV Limited to construct the Havant Thicket Reservoir in East Hampshire in a contract worth £167 million.
The reservoir is the first large-scale new water storage reservoir in the UK to be built since the 1980s. It will store 8.7bn litres and supply up to 21m litres of water each day, securing critical water supplies for the region. The scheme is being financed by Portsmouth Water, which appointed Future Water following a tendering process.
Portsmouth Water has agreed £150m of equity funding provided by investors in the company’s owner Ancala Partners, as well as money that will be borrowed. A total of £120m of the equity funding will be used this year, with a further £30m to follow in early 2024.
