Channel Tunnel Project

The Channel Tunnel project to link Great Britain and France has been under consideration since the 19th century. Several attempts have been made, but until recently no project had been supported sufficiently to ensure success. In 1986, in response to British and French government invitation, a twin bored rail‐tunnel scheme submitted by the Anglo‐French promoter Channel Tunne Group‐France Manche was accepted. The scheme is privately financed and will be owned by Eurotunnel—a private sector Anglo‐French group—which is required to build and operate the fixed link under a 55‐year concession. The scheme is called “Eurotunnel” and incorporates two rail tunnels and an interlinked service tunnel and terminals near Folkstone in England and Coquelles in France. The system is based on rail transportation but permits private and commercial road vehicles to be carried on a shuttle system in addition to transporting rail passengers and rail freight by conventional means. The capital cost is just under £2.8 billion and a mix of equity and loan finance has been raised of just over £6 billion.