Tube's 17bn Upgrade at Risk As Metronet Collapses ; Disgraced Firm Gives Up 30-Year Contracts
Evening Standard - London › July 18, 2007
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Summary
DISGRACED Tube maintenance firm Metronet finally collapsed today, throwing plans to renew the Underground into chaos.
Transport for London applied to the courts on the consortium's behalf for the appointment of an administrator.See the full content of this document
Extract
Tube's 17bn Upgrade at Risk As Metronet Collapses ; Disgraced Firm Gives Up 30-Year Contracts
Metronet gave up two 30-year contracts to carry out a 17 billion upgrade of the network.
A Metronet spokesman confirmed the consortium had run out of cash to keep the contracts cover...See the full content of this document
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