Transport bosses in London have revealed plans to set up a new company called Crossrail 2 Ltd to deliver the first stages of the scheme.
The Mayor of London and Transport for London (TfL) aim to get the plans rubber stamped by the TfL Board at its meeting next week.
The new company would be a subsidiary of TfL and its remit would be to progress and steer the development of the project until construction is given final sign-off. TfL and Network Rail have already started the design phase, with public consultations on station locations and worksites underway.
In last month’s Spending Review and Autumn Statement, the Chancellor confirmed the £32bn scheme could get funding from the £300M Transport Development Fund. The project will now be considered by the National Infrastructure Commission, which is expected to report back in Spring 2016.
Crossrail 2 will consist of an underground tunnelled section between Wimbledon and Tottenham Hale and New Southgate in London. From these sites it will link with the existing National Rail networks. However there could be a rethink of part of the route after the discovery of a fault line in south London.
The Mayor of London Boris Johnson said: “Crossrail 2 is a vital infrastructure project needed to give London and the South East the transport links, homes and jobs it needs as the population continues to grow rapidly. To continue to develop the project at pace and bring together stakeholders and other advocates, I am asking TfL to set up a company that will have the job of fulfilling the Chancellor’s pledge last year that we must get Crossrail 2 off the page and into construction.”