Approval given for London's Crossrail
By Richard High27 February 2008
Due for completion in 2017, Crossrail is expected to provide increased rail capacity in London, relieving congestion on the city's Underground rail network. It will also provide a direct link from Heathrow Airport into the central City of London banking area, and newer eastern Canary Wharf financial district.
The project is being overseen by Cross London Rail Links, a 50/50 joint venture between the national Government's Department for Transport (DOT), and the city authority's Transport for London (TFL) organisation.
Douglas Oakervee, chief executive of Cross London Rail Links said, “Crossrail remains subject to the passage of the Crossrail Bill, now proceeding through Parliament, and is likely to receive Royal Assent (approval) by summer 2008.
“We are now ready, subject to the Bill receiving Royal Assent, to take this vital project for London through to a successful conclusion, on time and within budget.”
Full details of how the project will be funded have not yet been released, but the Government has said it will use a combination of public and private funds. Construction is expected to get underway in 2010.