: Rising costs force UK govt to delay major rail project #IndiaNEWS #International London, March 10 (IANS) The UK has announced a two-year delay to parts of a new high-speed rail link between London

@IndiaNEWS

Posted in: #IndiaNEWS #International

Rising costs force UK govt to delay major rail project #IndiaNEWS #International
London, March 10 (IANS) The UK has announced a two-year delay to parts of a new high-speed rail link between London and northern England, citing escalating costs caused by inflation.
We have seen significant inflationary pressure and increased project costs, and so we will rephase construction by two years of the High Speed Two (HS2) project between the city of Birmingham and the town of Crewe, Transport Secretary Mark Harper said in a statement to Parliament, Xinhua news agency reported.
Billed as the largest infrastructure project in Europe, the HS2 is planned to link Manchester, Birmingham and London, and modernise the countrys railway network, but has been heavily criticised over its soaring cost, which could exceed 100 billion pounds (9 billion) according to some estimations.
IANS
int/sha

Stock Market NEWS Best intraday tips Intraday Stocks below 100

Share & Forward! Do Not Share

0 Reactions   React

Replies (0) Report

Login to post a comment!