6.6 C
London
Tuesday, September 26, 2023

Crossrail trains to be 100% publicly funded

Crossrail rolling stock will now be fully funded by the taxpayer, according to a government announcement.

The public sector contribution will increase from £350 million to £1 billion.

The mover is designed to ensure that the project stays on track to begin passenger services in 2018 as originally planned, following a delay in the procurement process.

A deal will need to be reached for the new trains in 2014 if delivery and testing is to be completed in time.

In September 2012 the Government invited bidders to apply for a government guarantee to assist in the financing of the new trains.

Stephen Hammond, Parliamentary Under Secretary of State for Transport, said: “Transport for London and the government believe this decision is an appropriate course of action to deliver a very complex and unique infrastructure project within the delivery timetable. Trains need to be ordered by the middle of 2014, so that testing and delivery of the fleet can start in spring 2017, well ahead of the opening of Crossrail’s Central Tunnel Section in late 2018.

“Any delay in the rolling stock order would place this delivery timetable in jeopardy. By removing the private financing requirement and moving to a wholly publicly funded procurement the contract negotiations will be simplified and as a result Transport for London believes this will provide greater certainty that the contract can be awarded in time.”

The Mayor of London, Boris Johnson said: “Crossrail is now hitting its stride with tunnels being bored and stations being built at lightning pace. Nothing must get in the way of this fabulous new railway and it is fantastic news that we can now crack on with buying the wonderful fleet of brand spanking new trains.

“With more than 600 carriages providing a ten percent increase in London’s rail capacity Crossrail will transport not just passengers but jobs and growth across the city and beyond.”

4 COMMENTS

  1. They should use the opportunity to form a new ROSCO and once the contracts are all signed and trains built list it on the stock exchange, we could use a bit more competition. Although these trains will just be used for crossrail once it’s privatised they might expand.

  2. I am hoping that Patrick McLoughlin will now agree similar 100% public funding for new EMUs for Merseyrail and new DMUs for Northern Rail, although I am not holding my breath!

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest Rail News

Yorkshire to see more LNER services and longer trains

London North Eastern Railway (LNER) is meeting an increase in demand from leisure travellers by adding more services and...

More like this...