|
 | |
|
|
| |
Following commercial and financial close and final Government sign-off, the contract has been awarded to Tramlink Nottingham, to take over the operation of the existing tram line (NET Line One) and to build and operate the extended network to Clifton via Wilford and Chilwell via Beeston (NET Phase Two).
A detailed construction programme is now being finalised and the first phase of construction work will start in January 2012. Services on the new lines are planned to start in late 2014.
NET Phase Two will be funded by Nottingham City Council, the Government, and through a combination of tram fare revenue and a Private Finance Initiative (PFI) arrangement over the life of the concession. The Government provides approximately 66% of the estimated GBP570m (net present value) cost (through the PFI) arrangement, and the remaining 34% coming from Nottingham City Council, mainly through the Workplace Parking Levy (WPL). The WPL is a charge on employers based in the city that provide 11 or more car parking places for employees.