London, UK - April 9, 2001
Construction is set to begin this summer on the final phase of the Channel Tunnel Rail Link, a high-speed line from London to the Channel Tunnel connecting southeast England and northern France.
Final Phase Of Channel Tunnel Rail Link Gets Green Light
An agreement signed by Deputy Prime Minister John Prescott on April 3 cleared the way for Bechtel and London and Continental Railways to complete the $7.5 billion project, Britain’s first high-speed rail line. The second - and final - section will stretch for 39 kilometers between north Kent and St. Pancras station in London. Under terms of the agreement, Bechtel will assume part of the financial risk involved in the final phase by implementing an $862 million cost-overrun program.
Work on the first section of the CTRL, between the Channel Tunnel and north Kent, is on schedule, with completion expected in 2003.