(Bloomberg) -- London's transportation authority expects its flagship Crossrail project to face further delays and cost overruns due to the impact of the Covid-19 pandemic which has “significantly” affected its operations and services.
According to its latest projections, the completion cost of the Crossrail project would be higher than the potential increase of between 400 to 650 million pounds flagged in November last year, Transport for London said Thursday. It added that it is in talks with the U.K.'s Department for Transport on how these additional costs would be funded.
The central section of the line will now not occur during the summer 2021 window as previously announced as more time is required.
Falling passenger numbers have exacerbated challenges faced by the project, which has faced delays and budget shortfalls since construction began. The Mayor of London recently announced a funding review for the long-term future funding and financing options.
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