The UK government has leased its High Speed One line to a Canadian consortium. The line, which cost more than £5 billion ($8.1 billion) in taxpayer money to build, will be run by Borealis Infrastructure and the Ontario Teachers’ Pension fund on a 30 year lease. They paid £2.1 billion ($3.4 billion) in the deal.
The High Speed One line is the route that Eurostar uses in its journeys from London to Paris and Brussels. The consortium plans to open the line up to more train companies in a move that will see more competition, and hopefully lower rates, on the popular route.
The line will continue to be under the ultimate authority of the UK government and subject to its regulations.
[Photo courtesy user Sunil060902 via Wikimedia Commons]