Bombardier boost as government confirms Crossrail financing change
DERBY train-maker Bombardier’s chances of winning a £1 billion contract have been given a shot in the arm after ministers confirmed that the trains will be entirely funded by the public purse.
The Government has this morning confirmed the change in the way the rolling stock for Crossrail will be financed.
Instead of the bidders having to raise funding from the private sector to pay for the trains, the carriages will be entirely funded by the public sector.
This means that the bidders for Crossrail, which includes Litchurch Lane-based Bombardier, will not be judged on their ability to raise private finance.
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Campaigners for the Derby firm believe that the reason why Bombardier lost out on a previous deal, the £1.4 billion Thameslink contract, was because the preferred bidder, Gerrman firm Siemens, had a superior credit rating and would be more able to raise the money to pay for the 1,200 carriages.