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New Crossrail project to support 55,000 full-time jobs

The multi-billion pound Crossrail project is set to support 55,000 full-time jobs, figures have shown.

Some 43 per cent worth of the £5.5 billion worth of contracts already awarded have been given to businesses outside London and the south-east, illustrating the invaluable support that the work is going to provide to the economy beyond the financial capital.

Most of the contracts for work on the 73-mile Maidenhead to east London route, due to open in five years time, are yet to be awarded, with the total cost of the project estimated to come to £14.8 billion.

Of all the firms feeding off the project, around 60 per cent are small to medium-sized enterprises.

Andrew Wolstenholme, Crossrail chief executive, spoke of the positive far-reaching economic impact of the Crossrail initiative - Europe's largest construction project.

Echoing his thoughts, business secretary Vince Cable added: “With over £5.5 billion of contracts awarded and 75,000 business opportunities throughout the supply chain, this is now the time for the UK’s small and medium companies to capitalise,” with more than 1,700 companies having already secured work with the project.

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Posted by John OakADNFCR-1617-ID-801551406-ADNFCR