Home Estate Planning Firms prepare bids for MTR’s £3bn Elizabeth Line contract

Firms prepare bids for MTR’s £3bn Elizabeth Line contract

0 comment

A number of major transport operators are preparing bids to take on the £3bn contract to run the Elizabeth Line once it comes up for renewal, according to reports.

Hong Kong company MTR Corporation was awarded the contract to run Crossrail, the railway construction project that delivered the Elizabeth Line, in 2014, but it is set to expire on May 25, 2025.

The Sunday Times reported that Firstgroup, Go-Ahead Group, DLR operator Keolis and Transdev are all lining up bids.

Transport for London, chaired by current Mayor Sadiq Khan, is preparing to put the contract, which would cover the next seven years and with the possibility of an extension, out to tender. The new operator would be paid a fee based on a package of incentives, including performance-linked bonuses.

Some have speculated that there may be growing national security concerns over the MTR’s current involvement in running the line.

MTR is majority owned by the Hong Kong government, which has gradually come under the control of Beijing following the return of Hong Kong from Britain to the Chinese in 1997 and overseen a political crackdown in the city in recent years.

The company booked nearly a quarter of a billion in revenue in the twelve months to March 2023 from its Elizabeth Line contract.

During its first full year of operation, the Elizabeth Line carried a staggering 150.7m passengers. It is used for around 600,000 trips every weekday, with around 140,000 additional journeys.

Transport for London, Keolis, Firstgroup, the Go-Ahead Group, Transdev and MTR Corporation were approached for comment.

You may also like

Leave a Comment

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?