Contracts worth £5.5 billion awarded as part of London's Crossrail project

Date: 4/3/2013

Contracts worth £5.5 billion have been awarded to a number of businesses throughout the UK in preparation for London's Crossrail initiative.

The scheme - worth a total of £14.8 billion - will support 55,000 full-time jobs, with the project's Chief Executive Andrew Wolstenholme explaining that the economic stimulus will extend beyond the capital.

"Crossrail will not just benefit London and the South East - the project's economic benefits are being felt well beyond the confines of the M25," he said.

Indeed, 43 per cent of the contracts that were recently awarded were handed to firms outside of London and the South East.

And Business Secretary Vince Cable echoed Mr Wolstenholme's sentiments, claiming that "Crossrail is the type of project that will help the UK build a stronger economy."

The Crossrail route is due to open in 2018, with the line set to span the 73-mile distance between Maidenhead and east London.

Posted by Sarah Bailey

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