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UK National Audit Office publications

Work in progress: The London Underground Public Private partnerships: Metronet

The NAO is starting a study of the circumstances surrounding Metronet’s entry into administration and subsequent developments. Metronet was awarded two of the three Public Private Partnership (PPP) contracts to renew and maintain the London Underground tube network in April 2003 and entered administration on 18 July 2007. The Department for Transport is providing Transport for London with financial support to allow operations to be maintained. This includes a £1.7 billion grant to TfL as a result of an obligation to purchase Metronet’s debt following six months in administration.

The NAO has published three previous reports on the London Underground PPPs: one in December 2000 and two in June 2004. This follow up study will examine the causes of the failure and identify lessons for the future. The study will focus on any adverse consequences for the taxpayer, and the travelling public, and may include issues such as governance, risk transfer, costs and the specification of the original PPP contracts.

Publication Schedule

We intend to publish our report later in 2008.

Members of the NAO Team

Director: Patricia Leahy
020 7798 7837

Manager: Richard Wade
020 7798 7559

Email above personnel through our enquiries desk, marking your email for their attention

Media contacts: Phil Groves
Press Office
T: 020 7798 5539
Email Phil Groves through our enquiries desk; please mark your email for his attention