New Battersea Tube link in London gets $1.5 billion funding plan

Kari Lundgren

February 20th, 2013 at 8:46 AM EST

Photo Credit: A passageway at a London tube station. Flickr / Jim Bahn

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The development London underwent to get ready for last summer's Olympic Games but it in the right frames of mind to finally fix its Battersea problem.

London’s proposed subway link to 16,000 new homes near the U.K. capital’s iconic Battersea Power Station would be financed by local developers and companies under a plan announced today. The two-mile spur from the existing Tube will be funded via a 1 billion-pound ($1.53 billion) loan raised by the Greater London Authority and backed by the government. Repayments would come from l

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