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East West Rail to become "first big privately funded railway project since Victorian times"?

November 28, 2016 7:28 AM

This in The Times, Monday Nov 28th. This part is freely accessible online, the rest of the article is behind the paywall.

If true, it could speed up this chronically delayed project.

NB. It is not "Philip Hammond's planned train route". All he is is the Chancellor who has directed funds to a long established programme. It has all-party support from the councils along the line.

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The Times, Monday Nov 28th.

Philip Hammond's planned train route between Oxford and Cambridge is set to become the first big privately funded railway project since Victorian times.

Senior sources have confirmed that the announcement of £110 million of funding for the East West Rail link in the autumn statement is the trigger in a campaign to attract private investors to finance the multibillion-pound project.

"The chancellor is pump-priming private equity firms and other investors to fund the western phase of East West Rail," an industry source said.

The project will help to create a so-called brain belt, utilising Oxbridge graduates to retain and attract technology and advanced manufacturing companies