Mayor of London, Boris Johnson today announced that Dubai-based Emirates will sponsor Londonâ€™s new cable car river crossing, to be known as the Emirates Air Line, in a 10-year deal worth Â£36m.
Boris Johnson and Emirates' president Tim Clark at the announcement of the multi-million pound deal
The Emirates Air Line will connect north and south London, travelling between two new stations set to be named Emirates Greenwich Peninsula and Emirates Royal Docks.
Scheduled for completion in summer 2012, Â the new cable car will carry up to 2,500 people an hour across the Thames, providing a much-needed additional river crossing.
It will provide a direct link from ExCel, the UK's largest exhibition centre and home of the World Travel Market, and the O2 arena, Europe's largest entertainments venue. It will also provide an additional interchange between the Docklands Light Railway and Jubilee underground line.
The sponsorship deal will see Emirates putting up 80% of the cost of funding the new transport scheme, which is a key element in the Mayorâ€™s vision to transform east London into a bustling metropolitan quarter teeming with new businesses, entertainment and leisure facilities supported by world-class transportation.
Johnson said: â€œThis multi-million pound deal is tremendous news for London, helping us to deliver a new addition to the cityâ€™s skyline. The Emirates Air Line will be an exciting and innovative mode of transport easing travel for thousands and offering spectacular birdâ€™s eye vistas of our majestic Thames.
"The UKâ€™s first urban cable car will also act as a vibrant catalyst for the further regeneration of east London helping to attract jobs and investment for the benefit of Londoners.â€
Monday, October 10, 2011