LONDON, Dec 24 (Reuters) - Canary Wharf Group (CWG) is to contribute 150 million pounds ($222 million) towards Crossrail, a rail line set to link Heathrow airport in west London with the still-growing financial district in east London.
CWG will design and build a Crossrail station near its office complex on the Isle of Dogs for a fixed price of 500 million pounds, its parent company Songbird Estates Plc said in a statement on Wednesday.
Some 350 million pounds of the station's costs will be met from Crossrail's 15.9 billion pounds budget, with CWG bearing the risk in relation to costs above the fixed-price limit.
Work on the Isle of Dogs Crossrail station is set to begin in early 2009 and the first trains are due to run in 2017 when Crossrail opens for passenger service.
CWG said it had planning approval for 9,300 square metres of retail space and a rooftop park above the underground station. (Reporting by Dan Lalor; Editing by David Holmes)