European Investment Bank (EIB), will provide GBP 480 million (EUR 641.8 million) for the extension of the Northern Line to Battersea. The long-term loan agreed represents nearly 50% of the overall cost of the new London Underground link that will enable the construction of tens of thousands of new homes, offices and support 24,000 jobs helping to regenerate Vauxhall, Nine Elms and Battersea once operational.
‘We are developing an innovative package of private funding to build the Northern Line extension which exploits the huge commercial potential of this growing area of the capital,” The Mayor of London, Boris Johnson said.
Once operational in 2020 the new line will cut journey times from Battersea to the West End and the City to 15 minutes and companies across the country will be involved in construction work expected to start in the coming months.
photo: Copyright : Transport for London
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