This project summary provides information about the contractual and commercial aspects of the tunnel and stations PPP. The document is divided into three parts. The first part is an overview of the tunnel and stations PPP, including the rationale for PPP delivery, and summarises:

• the project objectives and scope;

• the tender process;

• the public interest considerations for the Tunnel and Stations PPP; and

• the Tunnel and Stations PPP timetable

The second part details the financial outcome of the tunnel and stations PPP including the value for money calculation.

The third part sets out the key commercial features of the tunnel and stations PPP, including the main parties and their general obligations, the broad allocation of risk between the public and private sectors and the treatment of various key project issues.