The project is being financed by Nottingham City Council, which will fund one third mainly through a workplace parking levy, and the British government, which will fund the remaining two thirds under a so-called public finance initiative (PFI).
Nottingham light rail expansion contract awarded
NOTTINGHAM City Council has placed a £570m contact with the Tramlink Nottingham Consortium to build two light rail extensions totalling 17.5km, and operate them along with the city's existing line under a 23-year concession.
NOTTINGHAM City Council has placed a £570m contact with the Tramlink Nottingham Consortium to build two light rail extensions totalling 17.5km, and operate them along with the city's existing line under a 23-year concession.
The consortium comprises Alstom, which will supply and maintain a fleet of 22 Citadis LRVs under a £294m contract, of which £101m is for maintenance of Nottingham's entire LRV fleet, Taylor Woodrow for the civil works, and Keolis and Wellglade which will operate the network. The financial partners are Meridiam Infrastructure and Infravia Fund.
The two extensions will start at Nottingham station, the terminus of the existing 14.5km line. Line 2 will be 7.5km long and will run southwest via Clifton to a 1000-space park-and-ride station near Junction 24 on the M1 highway, while Line 3 will head west via Nottingham University, Beeston and Chilwell to another 1300-space park-and-ride terminal near Junction 25 on the M1. Construction will start early next year and is due to be completed by the end of 2014.
Categories: Europe, Financial, Light Rail
Tags: Alstom, Britain, Nottingham, PFI
