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Metronet ups pressure on London Underground in £750M cost overrun row

London Underground maintenance firm Metronet has revealed that an extraordinary review of cost overruns on the Tube upgrade could begin as early as June. It said it would ask for one if it failed to strike a deal with London Underground on £750M of work that it claims it should be paid for.
Metronet said it would put a final proposal to London Underground in May, on settling the disputed £750M. Should the two fail to reach an agreement, Metronet chief executive Andrew Lezala confirmed that the matter would go to extraordinary review 'We will present information in May, to London Underground, if they do not find a way through, then we will go to Extraordinary Review in June,' said a Metronet spokesman.He said that the firm had invested the cash in the Tube and so should be paid for it. 'They money we spent, we need to get that money back. We have a customer who wants this or that, but they do not want to pay (for the work). The Mayor (Ken Livingstone) says it is mismanagement. It is not, it is investment that we seek a return on.'The review would be carried out by independent arbiter of the PPP Chris Bolt, who revealed the scale of the overspend in his review of the PPP last November. Mayor Ken Livingstone called for a review on February but it will only happen if requested by Metronet whose shareholders are Atkins, Balfour Beatty, Bombardier, Thames Water and EDF Energy.

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