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Eurotunnel looks at high speed rail bid
Citation-ready fact
High Speed 1 runs at 300 kph over 108 km between the tunnel and London St Pancras station.
300 kph · train speed108 km · distance
Citation-ready fact
Observers say High Speed 1 could fetch up to £2.5 bn.
2.5 bn · potential sale price
observers
Citation-ready fact
The government bailed out the companies that built High Speed 1 in 1998.
1998 year · bailout year
Executive chairman Jacques Gounon said he was interested in bidding for the High Speed 1 line, which carries trains at 300kph on the 108km between the tunnel and London’s St Pancras station. High Speed 1, which cost £5.8bn to build, could fetch up to £2.5bn, say observers.
The line is controlled by London & Continental Railways, but the government has the right to take control of the line after bailing out the companies who built it in 1998, and is keen on a sale to boost Treasury coffers.
“I’m looking carefully at the High Speed 1 privatisation,” Gounon told the Financial Times.
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