Serco wins £60 million London Transport Deal
Date : 08 November 2007
Serco has been awarded a £60milllion contract by Transport for London (TfL) to maintain traffic control equipment in central London and the City.
The five-year contract, which could be extended for a further two years, makes Serco responsible for maintaining traffic signals, pedestrian crossings, traffic information signs and ANPR (Automatic Number Plate Recognition) cameras - and includes important transport link points for the 2012 Olympics.
Serco has maintained over 40% of all London's traffic signals for the last twenty years.
By introducing a new strategy focusing on maintenance of traffic control equipment to minimise replacement costs, the company has recently achieved a record 100% across a series of strict TfL performance indicators.
Serco maintains traffic signals throughout the UK including on motorways in the South West and South East, and on the M25 North.
The company also operates the Docklands Light Railway on behalf of TfL as part of £400m franchise.
Christopher Hyman, chief executive of Serco Group plc said: "Our innovative approach to maintenance has helped us to successfully meet Transport for London's strict performance levels.
"These are exciting times for us - our commitment to this important contract over the last 20 years has been rewarded, and at a time when we prepare for the 2012 Olympics.
Transport for London said: "Serco has demonstrated outstanding commitment in providing traffic control maintenance in London - we're now looking forward to working together over the next five years, as we focus on delivering a strong plan for London and the Olympics and build on our reputations for dependability and delivery."