Extended to the Arsenal

Woolwich Arsenal Rail Enterprises (WARE),

’s 50/50 joint venture with the Royal Bank of Scotland (RBS), has finalised with Docklands Light Railway (DLR), part of Transport for

, the PPP contract to extend the Docklands Light Railway from King George V station near

to Woolwich Arsenal.

The Woolwich Arsenal contract involves a 2.5 kilometre extension under the Thames from King George V station to Woolwich Arsenal where a new DLR station will be integrated with the existing rail station.

The contract further extends the City Airport DLR extension currently being built by another AMEC/RBS joint venture, also under a PPP contract, which is due to open to the public by the end of 2005.

WARE has raised total funding of £240 million to finance the project comprising a bank loan from the Royal Bank of Scotland and a loan from the European Investment Bank with the balance being made up of equity from AMEC and RBS.

In addition to its equity investment in WARE of some £12 million AMEC has been awarded contracts from WARE to undertake the design, engineering and construction of the extension and its long-term maintenance over the 30-year concession period.