Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

Canary Wharf to pay 150 mln stg towards Crossrail

Published 12/24/2008, 02:56 AM
Updated 12/24/2008, 03:00 AM
SBDE
-

LONDON, Dec 24 (Reuters) - Canary Wharf Group (CWG) is to contribute 150 million pounds ($222 million) towards Crossrail, a rail line set to link Heathrow airport in west London with the still-growing financial district in east London.

CWG will design and build a Crossrail station near its office complex on the Isle of Dogs for a fixed price of 500 million pounds, its parent company Songbird Estates Plc said in a statement on Wednesday.

Some 350 million pounds of the station's costs will be met from Crossrail's 15.9 billion pounds budget, with CWG bearing the risk in relation to costs above the fixed-price limit.

Work on the Isle of Dogs Crossrail station is set to begin in early 2009 and the first trains are due to run in 2017 when Crossrail opens for passenger service.

CWG said it had planning approval for 9,300 square metres of retail space and a rooftop park above the underground station. (Reporting by Dan Lalor; Editing by David Holmes)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.