Private investors could help stump up the cash needed to build Britain’s longest road tunnel in exchange for a share of the money generated from tolls.

The Lower Thames Crossing (LTC) was one of a string of major infrastructure projects thrown into doubt by the government’s spending review.

The Chancellor of the Exchequer, Rachel Reeves, recently axed a string of schemes amid a £22billion “black hole” in accounts she says was left by the previous administration.

It was speculated the £9 billion road link, which would connect Kent and Essex via a new tunnel under the River Thames, near Gravesend, was to be among those that could have been shelved.

However, it was not mentioned in her parliamentary speech on Monday, July 29.

Now, it is understood the Treasury could be weighing up different ways to attract private finance to reduce the strain on the public purse and offset the growing costs of delivering the major infrastructure project.

According to the Financial Times, the new Labour Chancellor is said to be considering a PFI-style deal to complete the project.

A Private Finance Initiative (PFI) is a long-term contract between a private party and the government where the private sector designs, builds, finances and operates a public asset.

It is understood investors would receive returns from the road - although they could be caped - in exchange for coming up with the capital.

Chief executive for inward investment agency Locate in Kent, Nick Fenton, said: “This is a welcome development as we await the final decision on the LTC, a project that promises to be a game-changer for the county.

“In July, Locate in Kent called on the government to recognise the importance of Kent and Medway to its UK growth agenda, starting with a positive decision on the LTC.

“It is encouraging that ministers are keeping an open mind and are considering all possible means to deliver a project that will be critical to keeping UK freight passing through the Channel Ports and supporting increased housing and future economic growth for the region.”

The scheme has already faced several setbacks with the decision on its planning application recently being pushed back because of the general election.

The 14-mile road plan was set to be considered on June 20, by the government, however, it was delayed until October 4.

Speaking to KentOnline previously, the leader of Dartford council, Cllr Jeremy Kite (Con), urged the government to not cancel or delay the project any further.

He said: “It is so important. The truth is there is no doubt about it, it is needed.

“We know this is a worthwhile project to complete. It would be the most extraordinary betrayal.

“The Labour Party has said it wants to grow the economy. If it wants to say that, it needs to provide the backdrop and infrastructure for it.

“The Lower Thames Crossing is essential.”

Gravesham council, however, has continually reiterated its opposition to the proposed site of the controversial scheme saying it is in the “wrong” place.

The project has been on the map for 15 years and cost around £300 million so far.

More than a decade on from when it was first suggested, no physical work has been completed.

The Labour Party has been contacted for comment.