TWENTY YEARS OF THE CHANNEL TUNNEL

forecasts that were used to justify the project , which unfortunately have never proven to be accurate .”

Forecasts placed railway passenger numbers at 20 million a year and railway freight at 10 million tonnes a year . In reality Eurotunnel counted just 10 million annual railway passengers and 1.5 million tonnes of freight .

Revenue shortfalls meant higher interest rates and a huge gap in Eurotunnel ’ s finances , leading to 2007 ’ s brink-of-the-abyss negotiations . Here , the company renegotiated its contract with creditors , wiping away half its debts and hugely strengthening its position .

Brighter future And things continue to improve . The shuttle service between Folkestone to Coquelles is carrying 1.4-1.5 million trucks per year and 2.5 million cars , with both markets growing , and Keefe expects truck numbers to rise further up to two million by 2020 as the UK economy picks up .

The railway business , including high-speed passenger trains between London and Paris and freight trains from Scotland to southern Spain , is experiencing strong gains . Since finalisation of the HS1 line from Folkestone to St Pancras in 2007 , highspeed passenger levels have leapt from 6.5 million to 9.5 million .

In freight , Eurotunnel ’ s incentive scheme kick-started the market and helps companies gain traction in the rail freight market , which has grown 10 percent .

Eurotunnel will also expand the reach from the initial coverage of

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