EIB Loans $814.5M For London's Crossrail Project

Law360, New York (December 13, 2013, 5:43 PM EST) -- The European Investment Bank said Friday it will contribute up to ₤500 million ($814.5 million) toward a new fleet of trains and a maintenance depot for Transport for London's upcoming Crossrail railway.

The Crossrail tunnels, on course to open in late 2018, are expected to improve public transportation across London. Construction on the railway has already begun, and the EIB said Friday that the delivery and testing of the new trains is scheduled to begin in 2017. The ₤500 million loan comes five years after the...
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