Transport for London (TfL) has announced plans for a new £25m cable car link crossing the River Thames between Greenwich Peninsula and the Royal Docks.

The privately-funded project, which is set to provide the capital with the UK's first urban cable car, will see the link cross the river at a height of more than 50m (164ft) - similar to the nearby O2 Arena. TfL hopes the route, which will be available to pedestrians and cyclists, will be completed in time for the 2012 Olympics and will enable visitors to travel between the O2 Arena and ExCeL in five minutes.

The plans will see the cable car providing a crossing every 30 seconds and carrying up to 2,500 passengers per hour, although the plans are subject to planning permission and funding being secured. London mayor Boris Johnson said: "A cable car spanning the majestic Thames would not only provide a unique and pioneering addition to London's skyline, but also offer a serene and joyful journey across the river.

"Passengers would be able to drink in the truly spectacular views of the Olympic Park and iconic London landmarks whilst shaving valuable minutes from their travelling time."