Back to RoadThe Lower Thames Crossing (LTC) is a new £10.6 billion crossing of the Thames east of London connecting Tilbury in Essex with Gravesend in Kent. It will provide a significant boost to the UK economy. It is intended to ease congestion on the Dartford Crossing and improve reliability for both car and freight users.
Funding for the project was primarily provided through a combination of local authority investment and government grant funding. In total, the station cost approximately £20 million to deliver. By combining local funding with rail industry expertise in project development and delivery, the scheme was able to progress from concept through to construction within a relatively short timeframe.
The project is being taken forward by National Highways, but it is expected to transfer to a privately financed Regulatory Asset Base (RAB) model. The RAB model allows for a regulated private entity to finance, build, operate and maintain LTC with construction and operating costs recovered over time from revenues.
ORR will continue to work with government to support its ambitions on private investment and growth in England’s roads infrastructure and we expect to take on a new and significant regulatory role for LTC.
