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In the Chancellor’s November 2025 Autumn Budget, the Regulated Asset Base
(RAB) model was announced as the Government’s preferred financing method for
the Lower Thames Crossing (LTC) project which will involve the creation of a
regulated road company (Reg Co.) that will be sold to private investors prior to a
finance raise (debt) for the main construction works. Reg Co. will receive revenues
from both the existing Dartford Crossing and new LTC Crossing which it will use to
service its financing and repay lenders and investors.
National Highways and DfT have appointed advisors to support and execute the sale
process. In preparation for the sale and the preceding Vendor Due Diligence (VDD)
National Highways will prepare Carve Out accounts for the financial years 2024
2025, 2025-2026 and 2026-2027 for Reg Co. and these will need to be audited
| Lot | Title | Value |
|---|---|---|
| 1 | Lot 1 | — |
| Title | Supplier | Value | Awarded |
|---|---|---|---|
| Award 1 | Menzies LLP | £291,182 | — |