Transport for LondonPublic Private Partnership
Under the 30-year PPP contracts, the infrastructure companies, or infracos, are responsible for the maintenance and renewal of LU's assets - its rolling stock, stations, track, tunnels and signals.
The infracos are contractually required to deliver a certain level of daily asset performance, and to upgrade the network to deliver improved capability in the longer term. They are subject to financial incentives or penalties based on their delivery against the performance levels set out in the contracts.
The Tube network is divided into three infraco groupings. Metronet Rail is responsible for two of these and Tube Lines the third:
- Metronet Rail
BCV: Bakerloo, Central, Victoria and Waterloo & City lines
SSL (Sub-Surface Lines): Circle, District, Hammersmith & City and Metropolitan lines - Tube Lines
JNP: Jubilee, Northern and Piccadilly lines
Contractual performance
The 30-year contracts are reviewed every seven and a half years. Tube Lines' contract was signed in December 2002. Metronet's contracts were signed in April 2003. LU's Chief Programmes Office manages LU's relationship with the infracos to ensure LU gets maximum value from the contracts.
Each year, LU publishes a review of the PPP, detailing the infracos' performance and assessing what needs to be done to ensure that promised improvements are delivered.
More information on investment in the Tube and London's transport network is available in the Investor relations section.
