A NUMBER of major transport operators are preparing bids to take on the £3bn contract to run the Elizabeth Line once it comes up for renewal, according to reports.

Hong Kong company MTR Corporation was awarded the contract to run Crossrail, the railway construction project that delivered the Elizabeth Line, in 2014, but it is set to expire on May 25, 2025.

The Sunday Times reported that Firstgroup, Go-Ahead Group, DLR operator Keolis and Transdev are all lining up bids.

Transport for London, chaired by current Mayor Sadiq Khan, is preparing to put the contract, which would cover the next seven years and with the possibility of an extension, out to tender. The new operator would be paid a fee based on a package of incentives, including performance-linked bonuses.

Some have speculated that there may be growing national security concerns over the MTR's current involvement in running the line. The company booked nearly a quarter of a billion in revenue in the twelve months to March 2023 from its Elizabeth Line contract.

During its first full year of operation, the Elizabeth Line carried a staggering 150.7m passengers.

Transport for London, Keolis, Firstgroup, the Go-Ahead Group, Transdev and MTR Corporation was approached for comment.

(c) 2024 City A.M., source Newspaper