UK Chancellor of the Exchequer George Osborne has unveiled Crossrail’s new tunnel under the River Thames, as part of the £14.8bn Crossrail project.
When it becomes operational in 2018, the tunnel will improve connections between south-east London and the rest of the city.
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Crossrail’s Thames tunnel is expected to reduce the journey times from Abbey Wood to Canary Wharf, Bond Street and Liverpool Street.
London Underground managing director Mike Brown said: "The completion of this tunnel under the Thames marks another key milestone in the construction of Crossrail, which aims to boost rail capacity in the capital by 10%.
"Cities are the engine of the UK’s growth and continued investment in infrastructure improvements is vital to create jobs and stimulate growth across the UK."
Crossrail will also develop 500,000ft² of residential development above the Woolwich Crossrail station. This is expected to create approximately 75,000 business opportunities and 55,000 full-time jobs across the UK.
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By GlobalDataUK rail minister Stephen Hammond said: "Crossrail will transform travel for millions of passengers across London and help regenerate communities along the route. The planned Woolwich station is already delivering on that promise and is transforming the south-east of London by attracting investment from businesses and developers, as well as supporting our plans for long-term economic growth."
To date, Crossrail has completed over 21 miles of new rail tunnels across London.
Image: Chancellor of the Exchequer George Osborne unveils Crossrail’s new tunnel under the Thames. Photo: courtesy of Crossrail.
