The Tramlink Nottingham consortium led by Meridiam Infrastructure closed the Nottingham Express Transit Phase Two (NET2) project financing on 15 December 2011, whilst simultaneously replacing the Arrow Light Rail consortium, which had built, and was operating, the first phase NET1 of the citys tram network.
The £590 million ($929.74 million) project will result in two new lines being added to the network, which will be extended by a total of 17.5km. Completion of the lines to the suburb of Chilwell and the village of Clifton is scheduled for the final quarter of 2014 and the lines are expected to carry ten million passengers a year.
The concession will last for 22 years and three months and project income will be derived equally from fares and availability payments. Penalty clauses involve deductions from availability payments in the event of a loss of service.
Meridiam is the arms-length infrastructure fund...
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