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Metronet goes for extraordinary review

Tube contractor Metronet Rail BCV Limited is to ask for an extraordinary review of its performance in a bid to force London Underground to pay the £750M extra costs it has racked up.
Metronet is responsible for the renewal of the Tube's Bakerloo, Central, Victoria, and Waterloo & City lines.It has so far spent £750M more than agreed in its public private partnership (PPP) contract with London Underground. Extra work has been required, but LU claims much of the overspend has resulted from Metronet's poor management and inefficient working practices.It has refused to pay Metronet and the two parties have reached an impasse.Metronet today gave notice to LU that it will invite the PPP Arbiter to conduct an extraordinary review of its performance. The Arbiter will compare Metronet's costs with those of a 'notional' infrastructure company, to gauge whether value for money has been delivered.A separate extraordinary review is expected to be requested to recover costs incurred by Metronet Rail SSL, which is responsible for the District, Circle, Metropolitan, East London and Hammersmith & City lines.

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