Railtrack has signed a joint venture deal with Argent to develop the London International Freight Exchange (LIFE) at Colnbrook, Slough.
The 182.12ha (450 acre) development is the subject of a public inquiry, expected to last 16 weeks and now entering its fifth week. LIFE is intended to handle 150,000 intermodal containers annually and provide 210,000 sq m (2.3m sq ft) of direct rail served distribution warehousing.
Railtrack has been involved in the scheme in its regulatory capacity for the past two years. Now the two companies will set up a joint venture vehicle to carry out the development.
The inquiry has been branded a test case for the government’s policy of removing freight from the UK’s roads. Slough council is objecting to the scheme on the grounds of increased local traffic and damage to the green belt.
Argent’s Steve Tillman said if there is a positive outcome from the public inquiry, the earliest start date for the scheme would be early 2003.
EGi News 11/05/00
