Scope
Reference
TRCF3099
Description
The Lower Thames Crossing is a proposed new 14.3-mile road and tunnel which will pass under the river Thames connecting Kent and Essex, the scheme includes two 2.6-mile tunnels under the Thames, with roads required on either side to link it into the existing network.
HMG have been examining private finance options for the main works. The leading option is now a Regulated Asset Base model, in which a new economically regulated company (LTC Co) will undertake the main construction works, as well as maintain and operate both Lower Thames Crossing and Dartford Crossings.
The Department for Transport intends to contract with an organisation to act as a Strategic Sale Advisor, responsible for leading and executing the Lower Thames Crossing Co sale. Key responsibilities for the Strategic Sale Advisor will include: Capital Markets Advisory, Market Engagement & Investor Outreach, Credit Rating Process, Equity Sale Execution & Transaction Finalisation.
The Department for Transport (DfT) and National Highways (NH) will be the transaction principals with all decision-making authority reserved to them. The Srategic Sale Advisor will be acting in an advisory capacity only with no authority to transact on behalf of DfT/NH.
A successful outcome for the project will be determined by a transaction that achieves a timely competitive sale of the LTC Co, including the Dartford Crossing, to private sector investors with acceptable user charge levels representing value-for-money to society and minimal or no government support package.
Total value (estimated)
- £20,000,000 excluding VAT
- £24,000,000 including VAT
Above the relevant threshold
Contract dates (estimated)
- 7 January 2026 to 31 December 2027
- Possible extension to 31 December 2028
- 2 years, 11 months, 25 days
Description of possible extension:
DfT reserves the right to extend the contract for a period up to 12 months or such greater period as is agreed between the Buyer and Supplier in accordance with Schedule 8, Paragraph 5 of the Procurement Act 2023 as a result of a materialisation of a known risk (including delay to the overall project and transaction, and such other known risks).
Options
The right to additional purchases while the contract is valid.
DfT reserves the right to vary the contract in accordance with Schedule 8, Paragraph 5 of the Procurement Act 2023 as a result of a materialisation of a known risk (including the potential need to vary this contract to permit the SSA to offer a stapled-debt financing solution (including arranging on a syndicated basis), which would be made available to all prospective investors on an equal basis).
Main procurement category
Services
CPV classifications
- 66120000 - Investment banking services and related services
- 66122000 - Corporate finance and venture capital services
Contract locations
- UK - United Kingdom
Participation
Legal and financial capacity conditions of participation
Bidders must already have, or can commit to obtain, prior to the award of the contract, the levels of insurance cover indicated below:
a. Employer's (Compulsory) Liability Insurance = £5million
b. Public Liability Insurance = £5million
c. Professional Indemnity Insurance = £10 million
d. Product Liability Insurance = £5million
Full details can be found within the tender documents available via the DfT Sourcing Portal: https://dft.app.jaggaer.com/web/login.html.
Technical ability conditions of participation
Organisation must be FCA registered (or equivalent internationally recognised standard) and key individuals within the proposed Project Team are FCA registered (or equivalent internationally recognised standard).
Full details can be found within the tender documents available via the DfT Sourcing Portal: https://dft.app.jaggaer.com/web/login.html.
Particular suitability
Small and medium-sized enterprises (SME)
Submission
Enquiry deadline
14 November 2025, 12:00pm
Submission type
Tenders
Tender submission deadline
25 November 2025, 12:00pm
Submission address and any special instructions
https://dft.app.jaggaer.com/web/login.html
Full suite of tender documents can be accessed via our e-sourcing portal.
Tenders may be submitted electronically
Yes
Languages that may be used for submission
English
Award decision date (estimated)
19 December 2025
Award criteria
| Name | Description | Type | Weighting |
|---|---|---|---|
| Stage 1 Quality Questionnaire | Written submission covering the following areas: Relevant experience and expertise Approach and Methodology Resourcing Social Value Full details can be found within the tender documents available via the... |
Quality | 70% |
| Price | Tenderers are required to submit their Total Bid Fee for delivery of the full requirement Full details can be found within the tender documents available via the DfT Sourcing Portal: https://... |
Price | 20% |
| Stage 2 Presentation/ Interview | In-person presentation covering the following areas: Opportunity positioning Precedent transactions Collaboration and challenge Full details can be found within the tender documents available via the DfT... |
Quality | 10% |
Other information
Applicable trade agreements
- Government Procurement Agreement (GPA)
Conflicts assessment prepared/revised
Yes
Procedure
Procedure type
Competitive flexible procedure
Competitive flexible procedure description
DfT will undertake the following procedure:
Potential Bidders will be issued with an Invitation to Tender (ITT), accompanying tender documents via the DfT Sourcing Portal: https://dft.app.jaggaer.com/web/login.html. Interested parties will have 25 calendar days to submit their Bid.
Tenderers will have their initial Bid assessed, this will include responses to the Procurement Specific Questionnaire, Mandatory Criteria, Stage 1 Quality Questionnaire and Price submission. The three highest scoring Tenderers, who also pass the exclusion grounds, mandatory criteria & minimum quality threshold for each question, will be invited to a Stage 2 Presentation/ Interview. The DfT reserves the right to advance more than three tenderers to Stage 2 Presentations/ Interviews if deemed appropriate.
Tenderers who advance to Stage 2 will undertake a Presentation/ Interview.
The detailed procedure is outlined in the tender documents that can be accessed via the DfT Sourcing Portal: https://dft.app.jaggaer.com/web/login.html
Contracting authority
Department for Transport
- Public Procurement Organisation Number: PLTC-5358-LTWZ
Great Minster House, 33 Horseferry Road
London
SW1P 4DR
United Kingdom
Email: dftc.procurement@dft.gov.uk
Region: UKI32 - Westminster
Organisation type: Public authority - central government