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Published

8th February 2017

Knowledge Type

Research paper

Organisation

, Crossrail Ltd

Major Project

Crossrail

Authors

Martin Buck FICE FRICSICE Publishing

Of Interest To

Public sector clients

Crossrail project: finance, funding and value capture for London’s Elizabeth line

Summary

The £14.8 billion Crossrail project to deliver the new Elizabeth line east-west railway across London is the UK’s largest transport project. Getting it into reality was only possible through an innovative programme of finance, funding and value capture, which saw London business and future passenger revenues contribute approximately two thirds of the cost. This paper sets out the experience and lessons learned from the funding structure established to enable the Crossrail project to proceed.