Bombardier Wins Transportation Supply Contract Worth
$7.9 Billion Cdn for the London Underground in U.K.
MONTREAL, QUEBEC--APRIL 7, 2003 - 07:32 EST
Bombardier Transportation has received
contracts from Metronet for the supply of rolling stock,
signalling, maintenance and project management for the
modernisation of London's Underground system. The value of the
contracts is approximately pounds sterling 3.4 billion ($7.9
billion Cdn/5.0 billion Euros) over 15 years.
The turnkey contracts include the project management and the
supply of 1,738 metro cars and new signalling systems for the
Victoria Line and Sub-Surface Lines, together with the
maintenance of the rolling stock. In the early stages of the
project, Bombardier will commence re-signalling work, refurbish
the existing District Line rolling stock and build two
pre-production trains for the Victoria Line. The new metro car
fleets will be built in Bombardier's facility in Derby, United
Kingdom, between 2008 and 2015.
In addition to the supply contracts, Bombardier Transportation is
also one of the five equal shareholders of Metronet Rail BCV
Holdings Ltd and Metronet Rail SSL Holdings Ltd, "Metronet",
along with Atkins, Balfour Beatty, Seeboard and Thames Water.
Together, the shareholders have invested pounds sterling 350
million ($812 million Cdn/ 512 million Euros) of equity in equal
shares of pounds sterling 70 million ($162 million Cdn/102
million Euros). Metronet Rail BCV Finance plc and Metronet Rail
SSL Finance plc have raised a further pounds sterling 2.6 billion
($6.0 billion Cdn/3.8 billion Euros) on a non-recourse basis to
shareholders.
In the first seven-and-a-half years of the 30 year Public Private
Partnership (PPP), Metronet will invest over pounds sterling 7
billion ($16.2 billion Cdn/10.3 billion Euros) upgrading,
replacing and maintaining the infrastructure of the Infracos BCV
(Bakerloo, Victoria, Central and Waterloo & City Lines) and
Infraco SSL (the Sub-Surface Lines - Circle, District,
Hammersmith & City, Metropolitan and East London). This will
lead to massive improvements to London Underground's
infrastructure and will bring significant benefits to London's
travelling public.
Pierre Lortie, President and Chief Operating Officer of
Bombardier Transportation, said "We will be working in
partnership with the other Metronet shareholders to bring major
improvements to travellers in London and to ensure a massive
investment into the London Underground systems. The new trains
will be built and maintained in the UK and will bring a secure
and long term workload for our Derby site. We have extensive
experience in successfully managing and implementing projects of
this nature and we look forward to bringing this expertise to
bear, for the long-term benefit of the city of London".
Bombardier Transportation is the global leader in the rail
equipment manufacturing and servicing industry. Its wide range of
products includes passenger rail cars and complete rail
transportation systems. It also manufactures locomotives, freight
cars, propulsion & controls and provides signalling equipment and
systems.
Bombardier Inc., a diversified manufacturing and services
company, is a world-leading manufacturer of business jets,
regional aircraft, rail transportation equipment and motorized
recreational products. It also provides financial services and
asset management in business areas aligned with its core
expertise. Headquartered in Montreal, Canada, the Corporation has
a workforce of some 75,000 people and manufacturing facilities in
25 countries throughout the Americas, Europe and Asia-Pacific.
Its revenues for the fiscal year ended Jan. 31, 2003 stood at
$23.7 billion Cdn (pounds sterling 9.96 billion) Bombardier
shares are traded on the Toronto, Brussels and Frankfurt stock
exchanges (BBD, BOM and BBDd.F).
PHOTOS AVAILABLE ON OUR WEBSITE
NOTES TO THE EDITOR:
- Metronet was established in June 1999, initially as a
consortium. Its five equal partners are world-class companies -
Atkins, Balfour Beatty, Bombardier Transportation, SEEBOARD and
Thames Water.
Metronet is responsible for upgrading, replacing and maintaining
two-thirds of the London Underground infrastructure in a
30-year-old Public Private Partnership (PPP) contract. Metronet
has unrivalled expertise in project management and planning,
railway engineering and asset management and a wide range of
other technical disciplines.
About the Consortium Members:
- Atkins is one of the world's leading providers of professional,
technologically based consultancy and support services. It
already undertakes significant consultancy work for London
Underground and is the UK's leading railway engineering business
with expertise in safety, design, electrification and signalling.
- Balfour Beatty is one of the largest engineering, construction
and asset management groups in the United Kingdom. It employs
26,000 people and operates across a range of geographical and
product service markets but with a strong orientation towards the
engineering, financing, construction, maintenance and asset
management of infrastructure. It carries out over pounds sterling
600 million per annum of work for railway customers, making it
the largest contracting and service business for fixed railway
infrastructure in the United Kingdom and one of the largest in
the world.
- Bombardier Transportation Please refer to the Press Release.
- Thames Water is a global specialist in water and wastewater
operations and services. Worldwide, it serves a population of
about 54 million people, including 13 million customers in London
and the Thames Valley. The company is one of the capital's
largest and most experienced infrastructure managers, investing
pounds sterling 500m in major capital investments and operating a
major network of pipes and sewers beneath the city's congested
streets. This includes the Thames Water Ring Main, one of the
largest Tunnelling projects undertaken in London since the Tube
was first built. Thames Water has been leading a multi-agency
initiative to tackle rising Groundwater levels in the capital,
which has included working with London Underground.
- SEEBOARD sells gas and electricity through SEEBOARD Energy to
customers throughout the UK. In its traditional heartland of
Kent, Sussex and large parts of Surrey, SEEBOARD Power Networks
owns, operates and maintains an electricity network of over
45,000km (28,000 miles) of overhead lines and underground cables.
The company became a member of LE Group, one of the UK's major
energy companies, in July 2002. LE Group is responsible for the
electricity distribution networks in London, the South-East and
Eastern England and supplies energy to about five million
customers nationwide. LE Group employs about 11,000 staff and is
a wholly-owned subsidiary of Electricite de France. SEEBOARD
Powerlink, owned by SEEBOARD, Balfour Beatty and ABB, has the
30-year contract to operate, maintain, finance and renew London
Underground's high-voltage power distribution network.
About Metronet Rail SSL Finance plc and Metronet Rail BCV Finance
plc
Metronet Rail SSL Finance plc and Metronet Rail BCV Finance plc
are wholly owned subsidiaries of Metronet Rail SSL Holdings Ltd
and Metronet Rail BCV Holdings Ltd respectively.
The purpose of these companies is to act as vehicles for the
holding of bond finance, management and release of this finance
to the operating companies as and when required.
BACKGROUNDER
BOMBARDIER WINS TRANSPORTATION SUPPLY CONTRACT WORTH $7.9 BILLION
CDN FOR THE LONDON UNDERGROUND IN U.K.
Metronet has awarded Bombardier Transportation combined Rolling
Stock and Signalling Contracts as part of the upgrade programmes
for Infraco BCV and Infraco SSL. The value of the contracts
totals approximately pounds sterling 3.4 billion ($7.9 billion
Cdn / 5.0 billion Euros) over 15 years.
Project Management & Systems Integration
As systems' integrator, Bombardier's skilled teams of
professionals will work closely with partners and subcontractors
to ensure that Bombardier's role in the line upgrades is project
managed from a 'total system' perspective. Bombardier will
ensure that the new rolling stock and signalling systems enable
LUL to meet their operational requirements safely and reliably.
Bombardier's Supply Contracts with Metronet Rail BCV
Victoria Line: 47 new 8-car trains (376 cars).
Two pre-production trains will be constructed. The first train
will commence its testing programme within three years and the
first operational train will enter service in 2009. The rest of
the new fleet will then be phased in over the next two years.
A completely new Signalling System and Control Centre for the
Victoria Line will be installed by 2009 enabling full automatic
control of the railway under a new "Distance To Go" signalling
system.
Bombardier's Supply Contracts with Metronet Rail SSL
Progressive replacement of all signalling and 1,362 new vehicles
over 12 years. Two pre-production trains will be constructed and
supplied in 2008. All new trains on sub-surface lines will be of
the same walk-through design, with only train length changing
between the various lines. Signalling on the entire sub-surface
system will be renewed by the end of 2014.
Metropolitan Line (A Stock): 72 new 8-car trains (576 cars).
After two years of testing, the first new passenger trains will
enter service in 2009.
Circle and Hammersmith & City Lines (C Stock): 40 x 6-car (240
cars) The new fleets will be delivered during 2012 and 2013.
District Line (D Stock): 78 new 7-car trains (546 cars).
The existing fleet of 75 x 6-car trains (450 cars) will be
refurbished by the end of 2008 and replaced at the end of 12
years. The new trains will be delivered between 2013 and 2015.
Features of the New Trains
The new rolling stock for the Victoria Line and Sub-Surface Lines
will bring the following improvements:
- Improved ventilation, lighting and ride quality for passengers
- Wide doors with stand-back areas and carefully designed
interiors to improve boarding and alighting
- Spacious, air-conditioned and ergonomically designed cabs for
drivers
- Energy efficient, highly reliable solid-state propulsion
systems
- Excellent acceleration performance, leading to faster journey
times
- Extremely strong, crash resistant vehicle structures
- Significant reliability improvement over existing rolling
stock, based on a proven vehicle product platform
- Vehicles designed for easier maintenance to ensure minimum
downtime and lower maintenance costs
- Hard wearing, vandal-resistant materials and finishes to
provide long lasting exterior and interior environments
Services
Refurbishment: In 2003, Bombardier Transportation's Ilford Site
will begin a five-year programme to upgrade the District Line
fleet of 75 x 6-car trains (450 cars). The trains will be fitted
with new interiors including improvements to the drivers' cabs,
as well as newly painted exteriors. The first refurbished train
will enter service in 2004.
Maintenance: Bombardier will be responsible for the maintenance
of the existing rolling stock on the Victoria Line and
Sub-Surface Lines from 2007. Bombardier Transportation will then
be responsible for the maintenance of the new trains for the
Victoria Line and the Sub-Surface Lines from their introduction
onwards, until the end of the 30-year PPP contracts, subject to
the periodic reviews at 15 and 22.5 years.
Depots: Rolling stock maintenance will be carried out at London
Underground's existing depots. These will transfer, with their
staff, to Metronet as part of the Service Contract.
Signalling
Bombardier Transportation has sub-contracted Westinghouse Rail
Systems Limited (WRSL), part of Invensys plc, to carry out the
signalling portion of the upgrade package. WRSL already has
considerable experience in designing and supplying signalling
solutions to London Underground. Together, the sub-contracts for
BCV and SSL signalling are worth over pounds sterling 850M ($1.97
billion Cdn / 1.24 billion Euros).
Features of the new Signalling
The new signalling systems to be introduced as part of the line
upgrades on the Victoria Line and Sub-Surface Lines will
include:-
- New "Distance to Go" ATP signalling system, allowing trains to
run closer together at high speed, thus increasing line capacity
- Well-proven, high integrity solid state interlocking systems,
providing extremely safe and reliable control
- Improve signalling control, incorporating automatic train
regulation and decision support facilities allowing improved
co-ordination of services and speedier recovery from service
disruptions
- Automatic train operation, providing much more predictable and
controllable train operations
- Improved system maintenance through replacement of obsolete
systems by modern technology
- The replacement of insulated block joints with a more reliable
system of jointless track circuits
- A more efficient maintenance programme resulting from
replacement of pneumatic point motors and train stops.
The investment in modern, reliable signalling will enable
improved maintenance procedures to enhance fault finding,
performance and safety.
Our Commitment
Bombardier Transportation fully supports Metronet's intention to
meet or exceed contractual requirements for line upgrades as well
as satisfying London Underground's aspirations for availability
and ambience performance improvements.
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FOR FURTHER INFORMATION PLEASE CONTACT:
Bombardier Transportation
Lydia Dufresne
Co-ordinator, Communications
(450) 441-8130
transportation.bombardier.com |
