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UK government backs London Crossrail project with extra £825 million - Metro US

UK government backs London Crossrail project with extra £825 million

FILE PHOTO: People walk through the Crossrail Place Bridge in the Canary Wharf financial district of London

LONDON (Reuters) – The British government said on Tuesday it would provide Transport for London, the capital’s public transport operator, with a grant worth 825 million pounds ($1.10 billion) to help it pay for the completion of the city’s Crossrail project.

The opening of Crossrail, which runs east to west connecting London’s Canary Wharf financial district with Heathrow Airport, has been delayed by three years and has gone significantly over budget. Its central part is due to open in 2022.

The government said it would provide a grant worth 825 million pounds to help address the shortfall in Crossrail’s funding. It had already provided a 2.15 billion pound financing package for the project in 2018.

TfL’s finances have been hammered during the pandemic as restrictions on travel have deterred people from using public transport.

($1 = 0.7477 pounds)

(Reporting by Sarah Young; editing by Michael Holden)

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