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Bechtel Completes Sale Of Equity Interest In Tube Lines

  • 26 June 2010
    LONDON, England
  • Engineering, Procurement & Construction, Europe, Middle East & Africa, Financing & Equity Financing, Press Release, Rail

Bechtel will continue to work with London Underground for an interim period to enable a smooth transition of the capital works programme to Transport for London.  Amey will continue to provide management and maintenance services to Tube Lines. 

Mike Adams, President, Bechtel Civil, commented:
“We are extremely proud to have played an important role in delivering the substantial improvements in performance on the Jubilee, Northern and Piccadilly lines, while transforming safety for people working on the network.  These achievements are a tribute to the dedication and hard work of Tube Lines’ employees.”

Adams noted that under Tube Lines’ stewardship, during which time Bechtel had a major role in the capital works programme for the Jubilee, Northern and Piccadilly lines, the company delivered significant improvements in reliability and safety,  including:

  • 57% fewer passenger delays across the three lines

  • 70% improvement in reliability on the Piccadilly line

  • 17% improvement in reliability on the Jubilee line

  • 65% improvement in reliability on the Northern line which consistently out performs all other lines on the network

  • 88 Tube Lines station upgrades delivered into service on or ahead of schedule

  • 50% and 40% reduction in costs for station upgrades and track works respectively

London Underground Managing Director, Mike Brown said:
"We welcome this agreement with Amey and Bechtel, which will enable us to continue with the vital upgrade of the Tube while providing greater flexibility in the way that is achieved.

I would also like to acknowledge the contribution of Tube Lines’ shareholders, management and staff to the improved operational performance on the Jubilee, Northern and Piccadilly lines over the last seven years.”

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About Bechtel

Bechtel is a trusted engineering, construction and project management partner to industry and government. Differentiated by the quality of our people and our relentless drive to deliver the most successful outcomes, we align our capabilities to our customers’ objectives to create a lasting positive impact. Since 1898, we have helped customers complete more than 25,000 projects in 160 countries on all seven continents that have created jobs, grown economies, improved the resiliency of the world's infrastructure, increased access to energy, resources, and vital services, and made the world a safer, cleaner place.  

Bechtel serves the Energy; Infrastructure; Manufacturing & Technology; Mining & Metals; and Nuclear, Security & Environmental markets. Our services span from initial planning and investment, through start-up and operations.

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