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STAKEHOLDERS/LONDON AND CONTINENTAL RAILWAYS (LCR)

  • Composition of LCR

    Source: DfT
  • Appointment - LCR was appointed (following a competitive tender process) in 1996 to design, build, finance and operate the CTRL - with LCR acquiring ownership of Union Railways Ltd (by then a Government company) and European Passenger Services Ltd (the UK arm of the Eurostar train services). The overall administrative structure is shown by the above figure.
  • Main Shareholders - at the time of their appointment (1996) LCR shareholders were as follows:
    • Bechtel – 19%
    • SG Warburg – 19%
    • Virgin Group – 18%
    • National Express – 17.5%
    • SNCF – 8.5%
    • London Electricity – 8.5%
    • Arup – 3.5%
    • Halcrow – 3.0%
    • Systra/Sofretu/Sofrerail – 3.0%
  • Project Delivery - responsibility for the overall delivery of CTRL lies with LCR’s two subsidiaries
    • CTRL Section 1 – Union Railways (South) Ltd;
    • CTRL Section 2 – Union Railways (North) Ltd.

  • Property Development – London & Continental Stations and Property (LCSP) is the property subsidiary of LCR. It is developing the new international stations on the CTRL. LCSP has responsibility for the multi-billion-pound regeneration of land around the CTRL stations in partnership with developers and in close co-ordination with Government agencies, local authorities and communities. It is also playing a crucial role in enabling the London 2012 Olympics and in delivering homes and jobs in the Thames Gateway. In addition, LCSP has responsibility for the acquisition of land required for the CTRL and manages all of LCR's commercial and residential properties. LCSP is responsible for the assembly of land required for the construction of the CTRL and controls land at King's Cross through agreements with the Secretary of State for the Environment, Transport and the Regions. At Stratford, the Stratford City Development Limited (SCDL) is the development partner consortium of London & Continental Railways and is owned by Stanhope and Duelglide. Duelglide in turn is owned by Westfield, Multiplex and Aldersgate.
  • Design and Project Management - formed in 1997, Rail Link Engineering (RLE), a consortium made up of the engineering shareholders in LCR—Arup, Bechtel, Halcrow and Systra— became the project manager responsible for the design, project management, procurement, construction and commissioning of the CTRL under an engineering, procurement and construction agreement with LCR, administered by Union Railways, a subsidiary of LCR.
  • Operation and Maintenance - of CTRL Section 1 is now being undertaken by Network Rail (CTRL) Ltd for LCR subsidiary CTRL (UK) Ltd

Sources:
Channel Tunnel Rail Link section 1 : an overview – Mike Glover, Paper 13470, Institution of Civil Engineers – Proceedings, May 2003
London and Continental Railways ‘LCR – An Incredible Journey’, available from: www.lcrhq.co.uk, accessed 24/10/2006
Gambrill, B. (May 2003a) Channel Tunnel Rail Link: 1971 to 1990. In: ICE Civil Engineering 156, pp. 4-10, Paper 13210.
Terry Gourvish’s - ‘British Rail 1974-97: From Integration to Privatisation’ (Oxford University Press, 2002)
dft.gov.uk - The need for a Channel Tunnel Rail Link - How the need for a CTRL developed
Argent plc website: http://www.argentkingscross.com/live/index.cfm?page=people2 accessed 3rd April 2007
http://www.lda.gov.uk/server/show/ConWebDoc.1325 Press Release dated 15th November 2005

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