UK turned down private financing for Stonehenge Tunnel and Lower Thames Crossing projects

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The United Kingdom is seeking for alternative option to fund the Stonehenge Tunnel and Lower Thames Crossing projects but not through PF2 (private finance) funding. 

The two mega projects were previously to be full or part-funded through PF2, but the government has abandoned the plan and the projects are not included in the Road Investment Strategy (RIS 2). However, the Department for Transport (DfT) has admitted that the projects do not yet have a final funding solution. DfT continues the development phase of the business case for the projects. 

The Member of Parliaments (MPs) has urged DfT to

  • clarify the financing structures available to fund the A303 Stonehenge tunnel and Lower Thames Crossing projects,
  • determine how this financing structure affects the budget of GBP25.3 billion (US$33.25 billion) for RIS2,
  • identify effects for other road projects in RIS2, and

The Department is expected to finalize the second strategy in 2019.

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