Alstom confirms Bombardier merger talks February 17, 2020 French train manufacturer Alstom has confirmed talks to purchase the rail division of Canadian firm Bombardier are ongoing. The proposed deal could be worth $7bn on an enterprise value basis, Reuters has reported. Reports of the merger came last week, quoting a French TV station, that Alstom’s board was set to make an offer. “Alstom [...]
HS2: China tells UK it can build high-speed line in five years and at lower cost February 15, 2020 The UK is considering giving China’s state-owned railway builder a role in constructing the HS2 rail line. Government officials said “preliminary discussions” had taken place, but no “concrete commitments” had been made. The Chinese railway firm said it could build the line in five years and at a much lower cost, according to a letter [...]
HS2: Businesses react to Boris Johnson’s green light for controversial rail project February 11, 2020 Business groups have welcomed the government’s decision to proceed with the controversial HS2 rail line. The Prime Minister’s expected announcement comes after months of debate over whether the scheme should go ahead. This follows a report that the project could cost over £100bn, three times what was originally forecast. BCC: ‘Great news for business’ Director [...]
Boris Johnson to appoint minister to oversee HS2 as he gives rail link green light February 11, 2020 Boris Johnson has given the go-ahead for the controversial HS2 rail link between London and Birmingham, announcing he will appoint a minister to oversee the project, as he damned the current management. The Prime Minister this afternoon confirmed the government was backing HS2, which is now estimated to cost more than £100bn by completion. Read [...]
Boris Johnson to give controversial rail link HS2 backing today February 10, 2020 The Prime Minister is expected to give HS2 the green light later today, after the £100bn infrastructure project receives final sign off at this morning’s Cabinet. A decision on the controversial high speed rail link, which will run between London and Birmingham initially, before splitting onto two branches going onto Manchester and Leeds, had been [...]
Sajid Javid to back HS2 scheme despite rising costs January 30, 2020 Sajid Javid is poised to throw his weight behind the controversial HS2 project at a key meeting of ministers today, ahead of a decision expected in early February. The chancellor, who has long backed the idea of making the most of low interest rates to support big infrastructure projects, is expected to tell Prime Minister [...]
Crunch time: Boris Johnson to meet ministers over HS2 decision ‘this week’ January 26, 2020 Boris Johnson is thought to be preparing for a crunch meeting with chancellor Sajid Javid and transport secretary Grant Shapps over the future of the HS2 rail line this week. The meeting could well be a combative one, after a torrid week for supporters of the beleaguered project. On Monday, it emerged the price tag [...]
Time ticking on HS2: Work ‘must start within 67 days’ to avoid further delay to £106bn project January 24, 2020 The controversial HS2 rail project was delivered a stark deadline this morning, as the government spending watchdog declared the scheme would be delayed even further unless construction begins in the next 67 days. In its fourth report on the project in the last seven years, the National Audit Office (NAO) also said the Department for [...]
HS2: Grant Shapps says problem is with capacity ahead of February decision January 22, 2020 Grant Shapps has placed more doubt over the future of the HS2 rail line, saying the problem is about capacity rather than speed. The transport secretary said that while a final decision would be made in February, he was examining alternatives. Shapps said it was vital that the government get the facts right before embarking [...]
HS2 Q&A: Where is the route, how much will it cost and when will it open? January 20, 2020 Today’s forecast that the cost of HS2 could soar as high as £106bn will come as no surprise to close observers of the project. The number, calculated by infrastructure consultant Michael Byng, is in line with Prime Minister Boris Johnson’s prediction last year that the project will come in “north of £100bn”. But the figure [...]