Release date: 1 February 2007
Promoter – Financial Intermediary
Transport for London, Windsor House, 42-50 Victoria Street GB- London SW1H 0TL.
Contact: Peter Regan, Senior Principal Corporate Finance.
Location
Description
The project is composed of two components:
- The Stratford International Extension is a major new 6km Docklands Light Rail (DLR) extension serving the Lower Lea Valley regeneration area and the Olympic Park at Stratford. It will connect into the new City Airport extension at Canning Town.
- The Bank - Lewisham 3 Car Upgrade is a major enhancement of the DLR network that will allow for the operation of longer, 3 car trains. The DLR network is currently operated by 2 car trains and this package of works will increase the capacity of most of the network by up to 50% or an increase from approximately 400 passengers in each 2 car train to 600 in a 3 car train.
Objectives
The Stratford International extension will form part of a new 12km corridor from Stratford International across the Thames to Woolwich, forming a key part of TfL Plans for improving orbital rail connections. The 50% enhancement in DLR system capacity is required to meet the anticipated demand from the surrounding areas served by the DLR network.
Both projects are key elements of London's transport commitments for the 2012 Olympic and Paralympic Games.
Comments
Urban rail public transport.
Sector(s)
Proposed EIB finance (Approximate amount)
Up to GBP 190 million (approximately EUR 285 million), as part of the TfL Prudential Borrowing regime.
Total cost (Approximate amount)
Total project costs are expected to be around GBP 390 million (EUR 585 million).
Environmental aspects
The project falls within the scope of Annex II of the Directive 85/337/EC (as amended). It is therefore for the competent authority to decide whether a formal EIA is required. For both components of this project, an EIA was carried out and a detailed Environmental Statement was produced and subjected to scrutiny at the Public Inquiry held in accordance with UK law (Transport and Works Act). An Order for the project constitutes its formal environmental approval. This was granted in November 2005 (Bank-Lewisham capacity enhancement) and November 2006 (Stratford International Extension).
The competent authority will be required to confirm that the project complies with the requirements of EU nature conservation policy, according to the EU Birds Directive (79/409/EEC) and Habitat Directives (92/43/EEC) and Natura 2000.
It is expected that the project will have a significantly positive impact on the city's overall transport conditions and on the quality of the urban environment, and may slightly reduce greenhouse gases in comparison with a do-nothing scenario.
Procurement
Transport for London is an organisation that is subject to EU public procurement directives. The Bank will require the promoter to ensure that all contracts to be funded by the Bank will be published and let in accordance with EU directives. The Bank's services will confirm this during the course of appraisal.
Status
Signed - 23/03/2007
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).