In a written ministerial statement, transport secretary Chris Grayling has revealed that the costs for the Crossrail project are now forecast at around £2.8bn
The additional costs of the Crossrail project are believed to be the result of some work taking longer than planned, but Grayling said the cost would be met by Network Rail’s own budgets.
Grayling said: “The coming months will be critical for the project as Crossrail Ltd work to complete the installation and integration of the tunnel, stations and signalling systems, and Network Rail continue their works on surface sections of the route.
“It remains a hugely complex project and uncertainty and risk remains across the programme, with significant testing and integration work remaining.
“The new leadership team has committed to being fully open and transparent as it works through the final stages of the project, which is supported by the Department and TfL.”
The Public Accounts Committee has also released a report called ‘Completing Crossrail’.
The report states that the Crossrail project is expected to be two years late and £2.8bn over budget and has criticised Crossrail Ltd for failing to adequately manage the scheme.
PAC chair, said: “Crossrail is two years late and £2.8bn over budget. Unfortunately, delay and being over-budget now appear to be par for the course for major rail projects.
“Crossrail Ltd. has failed to understand the complexity and risks of Crossrail, to manage its main contractors, and to integrate different strands of the programme successfully.
“The Department for Transport is ultimately responsible for the use of taxpayers’ money on Crossrail; it still does not appear to have got a grip of the problems.
“It has also failed to get a grip of Crossrail Ltd., continuing to pay its executives bonuses, despite the programme going off track.”