TfL has pledged to focus investment on new trains, signalling systems and station renewals.
Over the coming financial year, TfL's investment in trains, signalling and stations on the eight Tube lines that were formerly the responsibility of Metronet is forecast to be around £1.4bn - the equivalent of almost £27m each week.
The first new trains and signalling systems to be delivered on these lines will be as part of the £900m Victoria line upgrade. The new trains are currently being tested and are due to enter passenger service for the first time next year.
As part of the upgrade of the Circle, District, Hammersmith & City and Metropolitan lines, the manufacture of 190 new air-conditioned trains to enter passenger service from 2010 will continue at Bombardier's plant in Derby.
Mayor of London, Boris Johnson, said: "Since Metronet went into administration there has been a protracted period of uncertainty, resulting in the millions who rely on the Tube not knowing when the needed improvements would be delivered.
"With Metronet now out of administration and under the control of TfL we can ensure that the crucial upgrade work is continued and delivered on time, while representing good value for the Capital."
A new management team has been put in place, led by Chief Executive Andie Harper.
Metronet Rail BCV Ltd and Metronet Rail SSL Ltd went into PPP Administration on 18 July 2007. Since then, London Underground has been working with Metronet Rail and the PPP Administrators to transfer the Metronet Rail business to TfL control and to ensure the continued safe operation and renewal of the Tube.
All Metronet Rail staff have now transferred to the nominee companies under their existing terms and conditions and in accordance with TUPE regulations