Lord Foster insists his 拢20bn-plus estuary airport is financially viable
Leading architect Lord Foster has pointed to the closure of Heathrow Airport as a means of funding his proposal for a brand new air terminal in the Thames Estuary.
Amid growing signs of a possible government U-turn on the decision not to pursue the building of a third runway at Heathrow, Foster said his 拢20bn-plus plans for the 鈥楾hames Hub鈥� - drawn up in collaboration with engineer Halcrow - was a more viable long term solution.
Foster claimed the new four runway airport off the Isle of Grain would cost 拢20bn to build plus further costs including 拢3bn for a rail link to St Pancras station.
He told the Financial Times that around 拢10bn of the cost of the project will be recouped through the closure and redevelopment of Heathrow, while a further 拢19bn could be raised through landing charges, raising a total of 拢33bn.
鈥淎 third Heathrow runway is not a long-term solution 鈥� more in the Band-Aid tradition,鈥� he told the newspaper.
鈥淎 new airport would take the same time to get planning but would give us the capacity we need for decades to come.鈥�
Foster & Partners鈥� director Huw Thomas said that foreign investors would queue up to invest in the scheme but were being put off by the slow process of political decision-making in the UK.
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