Tuesday, May 26, 2009

Tube Lines reports £76m capital expenditure spend in Q1

Tube Lines’ capital expenditure for the first quarter of the year ran to £76m, slightly down on the forecast figure of £80m.

The London Underground PPP operator, charged with upgrading one third of the Tube network, said: “The under-spend was because station upgrades have been delivered ahead of schedule and under budget”.

Also, the timing of some track upgrade work has been altered to take advantage of weekend closures planned for other reasons.

In a quarterly performance report covering the January-March period, Tube Lines said: “Good progress was made with the line upgrades. Testing has reached sophisticated levels and results are successful.

There were 43 zero delays over the quarter, an improvement on the 27 in the same quarter last year.

Station modernisations/refurbishments

Work is mobilised, ongoing or has been completed during the latest quarter at:

Goodge Street
Covent garden
Canons Park
High Barnet
Green Park
Clapham common
Hatton Cross