Tuesday, 4 November 2008

BAA adds to the funding pot

Its been announced that BAA are to give Crossrail £230m towards the total £16bn cost of the project.

Transport minister on the announcement said "Crossrail will definitely go ahead and the announcement of £230m from BAA further underpins the credibility of the project and ensures that the work will proceed from 2010 so that it could be open in 2017."

He went on to add that the city had agreed to "significant contribution to the future of Crossrail",

"Crossrail will be transformational for transport in London creating the first comprehensive east-west connections that we have had in a generation in terms of new links."

I think the last line is forgetting the Central Line tho. Overall this is good news as it means that more funding is coming to the Crossrail pot as the project moves forward. What is critical right now is actual funding as from 2010 the first construction works are expected to start with enabling works (ie moving pipes in streets) already begun this mega project is moving forward slowly. The good news is that the building of Crossrail 1 is expected to create 30,000 jobs during the construction period, something we ae in dire need of doing.

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