On 29.01.2015 the European Investment Bank announced it will provide GBP480 million for the extension of the Northern Line to Battersea. The long-term loan represents nearly 50 percent of the overall cost of the new London Underground link. Once operational in 2020, the new line will cut journey times from Battersea to the West End and the City to 15 minutes. The extension will help regenerate the Vauxhall, Nine Elms and Battersea areas, supporting 24,000 new jobs and over 18,000 new homes. Two new stations will be built at Battersea and Nine Elms. The main worksites are at Battersea Power Station, Nine Elms adjacent to Wandsworth Road and Pascal Street, Kennington Green and Kennington Park. Main works will start at these sites in Spring, 2015. The main tunnel drives will start in 2016 from Battersea and progress east to the new shafts at Kennington Green and Kennington Park. Click uk/79 for tunnelbuilder archive. Visit http://www.tfl.gov.uk/travel-information/improvements-and-projects/northern-line-extension. 06/15.