London Underground PPP

Download or read book London Underground PPP written by Great Britain. National Audit Office and published by . This book was released on 2004 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt: In February 2002 approval was given for the infrastructure of the London Underground to be transferred to three Public Private Partnerships (PPP). This report examines whether these PPP deals are likely to give good value for money. It concludes that: the deals are very complex because of output-based contracts when there was limited knowledge of some of the least accessible parts of the infrastructure there is only limited assurance that the price paid to the private sector will be reasonable the process of negotiating the deals was costly ( pound]455 million or 1.5% of the 30 year deal value) the deals offer improved prospects, compared to the pre 1997 investment regime but there is no certainty that the infrastructure upgrade will be delivered.