The half a billion pound, six-year contract covers the main construction works. The full cost of the scheme, expected to be up to £1bn, is being funded entirely through developer contributions from Battersea Power Station and other developers and, from 2016, the creation of a new Enterprise Zone in Nine Elms. The powers to build the line are expected to be announced by the Government shortly and construction is due to start next year.
Two new Tube stations will be built – one at Battersea Power Station and another just off Wandsworth Road. They would connect to the rest of the Northern Line at Kennington Station and could be open by 2020.
It is hoped the Northern line extension will help regenerate the Nine Elms area of Battersea by supporting up to 25,000 new jobs and more than 18,000 new homes.
Mike Brown MVO, the Managing Director of London Underground, said: “This is an important step in ensuring the delivery of this vital extension which will significantly improve transport links in the area.”
Wandsworth Council leader Ravi Govindia said: “It’s fantastic news that a contractor has been appointed and we are a step closer to achieving this vital tube link that we have been campaigning for so long. It will breathe new life into Nine Elms and yield billions of pounds in new economic growth and tax revenue.”