Last checked at 
LONDON (Alliance News) - International Public Partnerships Ltd said Friday its portfolio for the year to date continues to do well and is delivering "very high" performance levels with revenue in line with management expectations.
The infrastructure investment company currently has 11% of its portfolio under construction, with the Thames Tideway Tunnel representing 11%.
International Public Partnerships said construction progress is on schedule with about 27% of the Thames Tideway Tunnel project completed. Preparations are underway for horizontal drilling, which should begin later this year, according to the company.
The central London sewer ranks as International Public Partnership's second biggest asset, only behind the Cadent Gas Distribution Network which is 14% of its portfolio.
Following the collapse of Carillion PLC, International Public Partnerships has made "good progress" successfully transitioning the services of 22 out of the 24 individual facilities affected.
The expected cost of less than GBP1.5 million, the company said, will be "immaterial" and will have "minimal" impact.
The FTSE 250-listed company continues to benefit from an exciting pipeline of investment opportunities, it said, and the company will spend to meet its existing investment commitments which amount to about GBP255 million over the next two years.
Looking ahead, International Public Partnership believes infrastructure "continues to rank highly" on government agendas.
The development of public infrastructure is accepted as a key component of long-term economic policy, according to the company.
Shares in International Public Partnerships were flat Friday at 142.80 pence each.
