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| Metronet responds to Arbiter's guidance on its Tube PPP contracts Metronet Rail, the organisation responsible for the renewal of nine of London's 12 Tube lines, responded to publication by the Office of the Public Private Partnership Arbiter (OPPPA) of guidance related to Metronet's organisation and performance. The guidance from the Statutory Arbiter covers Metronet's performance in the first three years of its operations from 4 April, 2003 (Transfer) to 31 March, 2006. Metronet invited the Arbiter in May 2006 to give annual guidance in the form of a non-binding report on whether it is carrying out its activities in an overall Economic and Efficient manner, and in accordance with good industry practice. This is the first in a series of annual reviews through which the Arbiter can provide guidance on the areas of improvement necessary for Metronet to meet these criteria. In respect of its day-to-day operations, the Arbiter finds that Metronet is "generally performing at or better than benchmark". The Arbiter's assessment overall is an 'average' for the first three years and does not give full weight to progress made in the last of the three years or since. Working in partnership with London Underground, Metronet acquired responsibility for maintaining and renewing nine of the twelve lines on the entire network and is investing £17 billion during its 30-year contract. Some £7 billion of this is being spent during the first 7.5 years – on new trains, new track, new signalling and refurbished and modernised stations. Metronet's shareholders consist of five world-class companies: Atkins, Balfour Beatty, Bombardier, EDF Energy, and RWE Thames Water. write your comments about the article :: © 2006 Construction News :: home page |