Serco wins contract to operate London Cycle Hir...
Serco awarded contract to operate London Cycle Hire Scheme
12 August 2009
Serco Group plc (Serco), the international service company, announces that it
has been awarded a new contract by Transport for London (TfL) to design build
and operate the London Cycle Hire scheme (LCHS). The LCHS is expected to
generate an additional 40,000 bicycle journeys every day in Central London.
The six year contract, which may be extended for a further two years, will
commence immediately, and includes an initial scheme installation period which
is expected to be completed within a year. The contract is valued at
approximately £140m over its six year term, split between installation and
operation of the scheme. User revenue from the scheme will be paid direct to
Transport for London.
Under the LCHS contract, Serco will provide, operate and maintain 6,000
bicycles for hire in Central London and 400 docking stations offering over
10,000 docking points. The bicycles will be supplied by BIXI, and are based on
an award-winning design which has been successfully used in Montreal, Canada.
The scheme will operate across nine London boroughs, and will initially cover
an area of approximately 44 square kilometres roughly equivalent to Transport
for London's central fare zone (Zone 1).
The contract further broadens the range of transport solutions that Serco
provides in London, where it already operates the Docklands Light Railway and
the Woolwich Ferry and maintains traffic signals for Transport for London.
Christopher Hyman, Chief Executive of Serco Group, said: "We are delighted to
be helping Transport for London address London's congestion and environmental
issues with this innovative cycle hire scheme. We believe that, through our
detailed planning and careful design, we have a leading edge scheme which is
capable of being rolled out in other cities which are facing many of the same
transport challenges."
Ends
For further information please contact Serco:
T +44 (0) 1256 745 900
Charles King, Head of Investor Relations
Dominic Cheetham, Director of Corporate Communications
About Serco
Serco is a FTSE 100 international service company, which combines commercial
know-how with a deep public service ethos.
We improve services by managing people, processes, technology and assets more
effectively. We advise policy makers, design innovative solutions, integrate
systems and - most of all - deliver to the public.
Serco supports governments, agencies and companies who seek a trusted partner
with a solid track record of providing assured service excellence. Our people
offer operational, management and consulting expertise in the aviation, BPO,
defence, education, health, home affairs, local government, science,
technology, transport and the commercial sectors.
More information can be found at www.serco.com
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