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DLR Announces Preferred Bidder For Extension To London City Airport:
Docklands Light Railway Ltd (part of Transport for London) has announced that its preferred bidder for the concession to construct the 4.4km extension to London City Airport is City Airport Rail Enterprises (CARE), a consortium of AMEC and the Royal Bank of Scotland.
It is expected that contracts will be signed in mid-December with work starting in January 2003 and an anticipated completion date of autumn 2005.
The Concessionaire will design, build, finance and maintain the extension for a period of 30 years. The capital cost of the works is around GBP140m.
DLR has received GBP30m towards the cost of the project from the Government’s Capital Modernisation Fund. Negotiations have taken place to secure additional funding through a number of section 106 agreements with developers.
It has also been reported that the government is to underwrite the total cost of this extension although this is not confirmed.
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30 August 2002
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