Metronet
 |
|
| Private / consortium | |
| Industry | Railway infrastructure |
| Fate | Administration |
| Founded | 2003 |
| Defunct | 2009 |
| Headquarters | Templar House, 81-87 High Holborn, London, WC1V 6NU |
|
Key people
|
Andrew Cooper (BCV MD), David Crawley (SSL MD), Andrew Lezala (group CEO) |
|
Number of employees
|
approx. 6000 |
| Website | www |
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. From 18 July 2007 to 26 May 2008, the company was in administration and on 27 May 2008, the company's responsibilities were transferred back into public ownership under the authority of Transport for London. In June 2009 the National Audit Office estimated that the failure of the Metronet PPP contract cost the taxpayer up to £410m, adding that "most of the blame for Metronet's collapse lay with the consortium itself." The administration complete, the joint administrators petitioned the High Court of Justice for the winding-up of the company on 3 November 2009, the petition to be heard on 10 December 2009.
The remaining London Underground lines (Jubilee, Northern and Piccadilly) remained under a PPP arrangement with Tube Lines until May 2010 when it was announced that Transport for London would buy out the Tube Lines consortium.
Before Metronet Rail entered administration, it had five shareholders: Atkins, Balfour Beatty, Bombardier, EDF Energy, and Thames Water.
The Metronet Rail brand consisted of separate trading companies, Metronet Rail BCV Ltd and Metronet Rail SSL Ltd 'BCV' standing for Bakerloo, Central & Victoria lines and 'SSL' for Sub-surface Lines (Circle, District, East London, Hammersmith & City, Metropolitan). Following administration these were transferred temporarily to new companies named LUL Nominee BCV Ltd and LUL Nominee SSL Ltd.
...
Wikipedia