REUTERS | Andrew Winning

Crossrail: news of London’s future infrastructure

Crossrail is clearly important news for London. It will be Europe’s largest construction project and its effects will be widespread:

  • It is a large infrastructure project that should help some construction and engineering firms manage the current construction recession. (Crossrail’s main construction phase is scheduled to begin in 2010.) It is anticipated that up to 14,000 jobs will be created.
  • The project expects to have a widespread significant positive effect on the local economy (London and the South East), when complete.
  • If you plan to continue to commute into central London after 2017, from the East or West, it should cut your journey time.
  • If you want to build near its route, there is another body to deal with as your plans are finalised, with the probability of having to make a contribution towards the scheme (see, for example, Land Secs refuses to pay Crossrail tax on Walkie-Talkie, Building, 27 February 2009).

Although reports about Crossrail are easy to come by, very little specific legal news finds its way into the public arena. PLC publishes a useful article on the Crossrail Bill and we will add to our content if legal issues (contentious or non-contentious) develop. In the meantime, announcements so far in 2009 include:

If you want to follow a page devoted to Crossrail news, Construction News publishes one.

3 thoughts on “Crossrail: news of London’s future infrastructure

  1. Bechtel Ltd has also been appointed the project delivery partner for Network Rail on its share of the project, including the £400 million revamp of Reading station. This is in addition to Bechtel being appointed the project delivery partner for the central tunnelled section.

    This appointment means Bechtel will be responsible for managing the delivery of the majority of Crossrail.

  2. Work on Crossrail began today, with the Mayor of London, Boris Johnson, and the Prime Minister, Gordon Brown, marking the start of construction at Canary Wharf station. The Mayor said:

    “The years of hesitation, irresolution and vacillation are over, the shovels have tasted earth and the construction of a railway that is crucial to the economic prosperity of this great city has begun.

    This amazing project will create and support thousands of jobs, relieve congestion and provide a high speed link between east and west of London. When the first of Crossrail’s chariots glide smoothly along its lines in 2017 it will change the face of transport in London and the South East forever.”

  3. It has been announced that Transport for London (TfL) has agreed a £1 billion loan with the European Investment Bank (EIB) to finance part of TfL’s contribution to Crossrail. The £1 billion loan facility with the EIB will be drawn down over the next six years.

    Mayor of London, Boris Johnson, said:

    “Our good friends at the EIB have provided us with a billion more reasons to proceed with the unstoppable force that is Crossrail. It is one of the largest loans ever secured for a transport project and I am especially pleased to have this backing for our drive to provide London with the facilities required to keep the capital one of the world’s leading cities.”

    (TfL and the Greater London Authority GLA) are responsible for finding £7.7 billion of the £15.9 billion Crossrail funding package. Out of the £7.7 billion TfL/GLA funding, £2.4 billion will be financed from TfL borrowing and paid back out of revenue from Crossrail fares.)

Leave a Reply

Your email address will not be published. Required fields are marked *

Share this post on: