BAA announces Crossrail funding

The operator of Heathrow has agreed to invest £230m in the £16bn Crossrail project, which will link east and west London with the airport.

BAA stands to benefit from the new rail link by offering business travellers from the centre of London - including Canary Wharf and the City - a faster route to the airport than is currently possible, making it a more attractive destination for internal and external users.

"Crossrail will definitely go ahead and the announcement of £230m from BAA further underpins the credibility of the project and ensures that the work will proceed from 2010 so that it could be open in 2017," said Lord Adonis, transport minister.

The City of London has also agreed to contribute to the costs, although the bulk will be met by the government.