Crossrail project: finance, funding and value capture for London’s Elizabeth line

Document type: Journal Publication
Author: Martin Buck FICE FRICS, ICE Publishing
Publication Date: 02/08/2017

  • Abstract

    The £14.8 billion Crossrail project to deliver the new Elizabeth line east–west railway across London is the UK’s largest transport project. Getting it into reality was only possible through an innovative programme of finance, funding and value capture, which saw London business and future passenger revenues contribute approximately two thirds of the cost. This paper sets out the experience and lessons learned from the funding structure established to enable the Crossrail project to proceed.

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  • Authors

    Photo of Martin Buck

    Martin Buck FICE FRICS - Crossrail Ltd

    Martin was appointed as Transition and Strategy Director at Crossrail in July 2014 after 3 years as Commercial Director.  Martin is a member of the Executive and Investment Committee and has responsibility for leading Crossrail’s transition from a standalone project into Transport for London.

    Martin is also responsible for procuring the supply chain and third party agreements required to support the Crossrail project.

    Martin was previously a project director with Partnerships UK where he managed activities in the transport sector.  As a founder member of the Treasury Taskforce (predecessor of Partnerships UK) Martin participated in many of the largest and most complex projects in the transport sector.

    Martin is a member of DfT’s Rail Franchising Advisory Panel and the HM Treasury IUK Client Working Group.

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