Crossrail investment makes 14,000 jobs possible

Transport for London has secured a £1bn finance package from the European Investment Bank to fund its Crossrail project, one of the largest construction schemes in Europe. 

If all goes according to plan, Crossrail will open in 2017 and provide a high-frequency service that connects the eastern and western areas of London. The railway will span 118km, reaching from Maidenhead and Heathrow to Abbey Wood, reports Engineering Online.

This ambitious construction project is expected to have a significant impact on the UK economy, as it will link the capital city to international transport networks and create around 14 000 new jobs in construction, engineering and related sectors during the development phase. A further 7 000 positions will be made possible when the railway is up and running. 

The vice president of the European Investment Bank, Simon Brooks, said:
 

“By providing a much-needed boost to rail capacity in London and the south east, Crossrail will help to develop London as a sustainable world city by reducing congestion and pollution for the benefit of Londoners, commuters and visitors. It will also link London more efficiently into the European and global transport networks."

 Mayor Boris Johnson added:

“I am especially pleased to have this backing for our drive to provide London with the facilities required to keep the capital one of the world’s leading cities.”

Construction work has already begun.