Source: Contract Journal

The administrators sifting through the debris following Metronet Rail's spectacular plunge into insolvency last week moved quickly to reassure staff and suppliers that it would be business as usual while it sought to transfer the companies activities to another operating company.

Existing contracts

Speculation is rife as to who that new operator will be. Transport for London (TfL) has a number of choices. One option is for TfL to take over the management of Metronet's existing PPP contracts with Trans4M, a joint venture of Metronet shareholders Atkins, Balfour Beatty, Bombardier, EDF Energy, and Thames Water. Certainly Atkins and Balfour Beatty seem amenable to this solution.

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Posted by pichu at July 25, 2007 12:47 PM