Transport for London (TfL) is planning to set up a new company to manage the delivery of of the capital’s new north-south railway Crossrail 2.
The wholly owned subsidiary, Crossrail 2 Ltd, will be responsible for “driving forward” development of the new line, which will connect Surrey and Hertfordshire with south west London, via a tunnelled section between Wimbledon and Tottenham Hale and New Southgate.
An announcement on the project is expected in Spring 2016 from the newly created National Infrastructure Commission. In the Autumn Statement, Chancellor George Osborne announced that Crossrail 2 would be eligible for a portion of a new £300 million Transport Development Fund.
The Mayor of London, Boris Johnson MP, said: “Crossrail 2 is a vital infrastructure project needed to give London and the South East the transport links, homes and jobs it needs as the population continues to grow rapidly.
“To continue to develop the project at pace and bring together stakeholders and other advocates, I am asking TfL to set up a company that will have the job of fulfilling the Chancellor’s pledge last year that we must get Crossrail 2 off the page and into construction.”
TfL currently hopes to open Crossrail 2 in 2030.