London & Continental Railways is responsible for construction operation and financing of the CTRL
Union Railways (South) is the subsidiary of LCR responsible for delivering Section 1 of the CTRL on behalf of LCR.
Railtrack will buy Section 1 from URS on completion for the cost of construction. Construction costs are financed by a government-backed bond issue and by Railtrack funds.
Union Railways (North) is the subsidiary of LCR responsible for delivering Section 2 of the CTRL on behalf of LCR. Section 2 will only go ahead when there is financial backing for the project - Railtrack has the first option to purchase this section which must be exercised by 2003.
Rail Link Engineering is a consortium made up of Bechtel, Ove Arup, Halcrow and Systra - the engineering shareholders of LCR. It is responsible for the design and prioject management of the CTRL.