NORTHERN LINE EXTENSION

Promoter – Financial Intermediary

GREATER LONDON AUTHORITY / TRANSPORT FOR LONDON

Location

• United Kingdom

Description

Extension of the Charing Cross branch of London Underground's Northern Line from Kennington Station to Battersea Power Station.

Objectives

The primary aim of the project is to facilitate the sustainable growth and development of the Vauxhall Nine Elms Battersea (VNEB) Opportunity Area, one of the largest urban development areas within London's Central Activities Zone. The project will provide the transport capacity and accessibility that can support high-density development and the delivery of 16,000 new homes and 20,000 to 25,000 new jobs. This level of development would not be achievable without the project.

Sector(s)

• Transport

Proposed EIB finance (Approximate amount)

GBP 480 million

Total cost (Approximate amount)

GBP 1000 million

Environmental aspects

The project falls under Annex II of the Environmental Impact Assessment (EIA) Directive 2011/92/EU and a full EIA has been completed, including extensive public consultation. This, and whether the schemes were included in a plan or programme that was subject to strategic environmental assessment in accordance with Directive 2001/EC/EC, will be reviewed during appraisal. Compliance with the Habitats Directive 92/43/EEC or Birds Directive 2009/147/EC will also be addressed during appraisal.

Procurement

The Bank will require the promoter to ensure that contracts for the implementation of the project have been/shall be tendered in accordance with the relevant applicable EU procurement legislation (Directive 2004/17/EC or 2004/18/EC and Directive 2007/66/EC (amending Directives 1989/665/EEC and 1992/13/EEC)), with publication of tender notices in the EU Official Journal, as and where required. A tender notice for a design and construct contract for the main works was published on 15 March 2013.

Status

Signed - 19/12/2014