Crossrail costs balloon as new boss admits he has no idea when it will finish

By Jordan Marshall2018-12-10T14:11:00

Railway will need another £2bn to complete as chief exec says ‘there is still a huge amount to do’

Crossrail will cost another £2bn to finish as the railway’s new chief executive said he had no idea when the scheme would be finished because there is so much work left to complete.

The news comes as mayor of London Sadiq Khan, the Greater London Authority (GLA), and Transport for London (TfL) confirmed a bailout with the government which will see the GLA foot extra costs for the scheme’s completion.

In a statement published today, a review by KPMG into Crossrail Ltd’s finances said between £1.6bn and £2bn was needed to complete the work.

…

Already registered? Login here

To continue enjoying Building.co.uk, sign up for free guest access

Existing subscriber? LOGIN

Stay at the forefront of thought leadership with news and analysis from award-winning journalists. Enjoy company features, CEO interviews, architectural reviews, technical project know-how and the latest innovations.

Limited access to building.co.uk
Breaking industry news as it happens
Breaking, daily and weekly e-newsletters

Get your free guest access SIGN UP TODAY

Subscribe now for unlimited access

Subscribe to Building today and you will benefit from:

Unlimited access to all stories including expert analysis and comment from industry leaders
Our league tables, cost models and economics data
Our online archive of over 10,000 articles
Building magazine digital editions
Building magazine print editions
Printed/digital supplements

Subscribe now for unlimited access.

View our subscription options and join our community