Delayed, Over-Budget London Crossrail Faces More Setbacks and Costs
(Bloomberg) -- London’s delayed cross-city rail line is facing further costs with the central section of the Elizabeth Line not seen opening until the first half of 2022.
Transport for London said in an update on Friday that the board of Crossrail Ltd., which is building the new project, has advised that the cost to complete the Crossrail project is currently expected to be up to 1.1 billion pounds ($1.5 billion) above the 2.15 billion pounds financing package agreed between the Department for Transport, Greater London Authority and TfL in December 2018.
TfL said the Crossrail board proposal on the 2022 opening for the central section of the Elizabeth Line is “not a confirmed opening window,” remaining subject to review by both TfL and the DfT.
The central section of the project from Paddington to Abbey Wood was originally set for December 2018 before facing several delays.
The London transport agency said it is in discussion with the government regarding how the funding of the additional costs will be resolved, while the current financing package remains in place.
It has also said the delay in opening of the route, known as the Elizabeth Line, will have an “as yet unquantified” negative impact on TfL’s revenue, which will be considered as part of its wider financial planning activities.
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