What is Metronet Rail?
Metronet Rail was one of two infrastructure companies (the other being Tube Lines Ltd) in a public-private partnership with London Underground. Metronet was responsible for the maintenance, renewal, and upgrade of the infrastructure on nine London Underground lines from 2003 to 2008. This included track, trains, signals, civil work and stations.
What happened to Metronet?
A consortium of private companies, Metronet was responsible for the maintenance, renewal, and upgrade of the infrastructure (track, trains, tunnels, signals, and stations) on nine London Underground lines from 2003 to 2008. Following financial difficulties, the company was placed in administration in July 2007.
When did Metronet become part of London Underground?
On 27 May 2008, Metronet came out of administration and was transferred to Transport for London and more recently London Underground. On 3 December 2009, Metronet Rail became part of London Underground.
What is the cost of the Metronet and Tube Lines?
Both Metronet and Tube Lines were colloquially referred to as “infracos”. Contracts were worth around £17bn over the 30-year period, with each contract receiving around £660m each month from the Government, albeit with reductions if targets are not met.