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24Feb94 UK: CROSSRAIL NEEDS £1BN OF PRIVATE CASH.

The private sector will be expected to contribute at least £1 billion to the £2.6 billion CrossRail scheme to link east and west London.The huge private sector contribution was revealed last week at the House of Commons, during the committee stage of the CrossRail private Bill.It is the first time London Transport's detailed estimates of the project's finances have been made public.Under questioning from an all-party group of MPs, London Transport's planning director David Bayliss said that between 40 and 50 per cent of the capital cost of building and equipping the railway could be provided by the private sector.He said: 'The advice we have is that 40 to 50 per cent is the range that should be feasible.'This amounts to between £1.04 billion and £1.3 billion of LT's project cost of £2.6 billion.The Government would provide the remainder of the money under a joint venture with the private sector. CONSTRUCTION NEWS