A1 TRUST LAUNCHES AWARD SCHEME AND NEW COVENANTS TO DOUBLE GROWTH RATE
Major advances at Darlington Locomotive Works
The A1 Steam Locomotive Trust, the registered charity that is building the first new mainline steam locomotive in Britain for almost 40 years, has launched an Awards Scheme to double its rate of growth in covenanted income from 15% to 30% growth next year. In addition the Trust launched an further range of covenants for young people, companies and for those wishing to contribute to the project after their death.
The A1 Steam Locomotive Trust is raising £1.6m to build a new Peppercorn class A1 No. 60163 Tornado at its Darlington Locomotive Works through Deeds of Covenant for ‘the price of a pint of beer a week’ (£1.25 in the North East when the project was launched in 1990). Although Tornado is around 50% complete by weight, if the Trust cannot raise another £700,000 quickly it could be up to another 4 years until the new steam locomotive can be completed at current rates of growth in income.