The Mayor of London has appointed contractor, Mace (delivered the London Eye and is currently constructing the Shard Tower), to build and operate a cable car across the Thames. Earlier this year permission for construction to commence was given by London Boroughs of Greenwich and Newham and the London Thames Gateway Development Corporation.
The cable car will provide a low-emission, quick, direct and fully accessible link connecting the Greenwich Peninsula and the O2 with the Royal Victoria Docks and ExCeL. It has been confirmed that construction work on the cable car will begin this summer with the aim of delivering the scheme before the London Olympic and Paralympic Games.
Transport for London (TfL) also announced the start of a competitive process for commercial partners who are interested in investing in the scheme in return for the rights to associated sponsorship opportunities, including naming rights and branding options. The winning bidder is expected to be announced later this year. In the interim, to aid the delivery of the cable car, TfL will provide upfront funding. The commercial programme will be a key component of the funding package by which TfL will recoup its costs which will also include third party grants and surplus fare revenue.
For more information and an animation of what a journey on the cable car would be like, visit www.tfl.gov.uk/cablecar.