The £15 billion Crossrail project has “done well” to protect taxpayers’ interests and is “on course” to deliver value for money, a report by The National Audit Office (NAO) has found.
The project, which is half-completed, will see 26 miles of new tunnels constructed under London and link the capital to the south east of England.
It is expected to open in December 2019.
The line is due to run from Maidenhead and Heathrow Airport in the west, to Abbey Wood and Shenfield in the east.
Examining the status of the scheme, NAO said if progress is maintained and risks managed then the programme will be delivered on time and on budget.
Amyas Morse, head of NAO, said: “The sponsors and Crossrail Limited have so far done well to protect taxpayers’ interests, by taking early action to stop costs escalating and, during construction, tightly managing the programme.
“There is still a long way to go and the department must continue to manage risks to protect its investment in Crossrail”.
The NAO said there have been additional costs including £1 billion to buy trains, which will be mainly funded by Transport for London, with Department for Transport contributing £100 million.
The report found Crossrail’s benefits will outweigh its costs. It forecasts Crossrail will bring £1.97 of transport benefits for every £1 of cost.
http://www.crossrail.co.uk/