Metronet has unveiled plans to improve London Underground.
The announcement came with the completion of the part-privatisation of the network.
The consortium promised to spend £17bn over 30 years.
Thirty-six stations will be refurbished in the first three years, track renewed, trains renovated and performance improved. Bigger improvements will take more time.
Metronet has been insulated from big losses arising from a disruption similar to the Central Line derailment.
It could insist on renegotiating its contracts if it loses as much as £50m a year.
References: Financial Times 08/04/03 page 12, The Times 08/04/03 page 15, page 23, The Independent 08/04/03 page 21, The Guardian 08/04/03 page 17
