CHANNEL TUNNEL
£3oom plan under study (N.Z.P.A.-Reuter—Copyright) LONDON, March 23. Britain and France have agreed to make a final study to determine whether to build a tunnel under the English Channel at an estimated cost of £3oom. - The agreement came after talks between the French Minister of Transport (Mr Jean Chamant) and his British counterpart (Mr John Peyton), and representatives of a private consortium of financiers from the two countries and the United States.
The first phase of the final study will take a year, and is expected to cost £750,000, to be paid by the consortium on the understanding that it will be reimbursed if the two governments decided not to proceed with the project. The tunnel will be financed partly by private-risk capital —between 10 and 30 per cent —and partly by government guaranteed debt. The consortium interested in building the tunnel has at its disposal funds running into millions of pounds.
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Bibliographic details
Press, Volume CXI, Issue 32563, 24 March 1971, Page 21
Word Count
154CHANNEL TUNNEL Press, Volume CXI, Issue 32563, 24 March 1971, Page 21
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