Transport for LondonTfL welcomes successful conclusion of Metronet Sub-Surface Lines contract negotiations
The resolution of these contract issues is good news for passengers
Bombardier and Westinghouse will continue to work to deliver the Victoria Line upgrade.
The agreement reached is good news for London's Tube passengers. It is a significant step forward in the process of removing Metronet from Administration and has the potential to realise very significant cost savings during the delivery of the line upgrade and beyond.
Tim O'Toole, LU Managing Director, said: 'The resolution of these contract issues is good news for passengers and a real step forward in the process of removing Metronet from Administration.
Transfer of Metronet
'A great deal of progress has already been made and we remain on track to transfer the two Metronet companies to two Transport for London nominee companies as soon as possible.
'In the meantime, we continue to work closely with Metronet and the PPP Administrators to ensure the Tube runs safely and reliably as it has done throughout administration.'
Notes to editors:
- Metronet Rail BCV and Metronet Rail SSL entered PPP Administration on 18 July 2007. London Underground is working closely with the Administrators, Ernst & Young, to ensure all necessary maintenance and renewal works continue
- Metronet Rail BCV is responsible for the maintenance and renewal of the Bakerloo, Central, Victoria, and Waterloo & City lines
- Metronet Rail SSL is responsible for the maintenance and renewal of the sub surface lines: the Circle, District, Hammersmith & City, and Metropolitan lines
