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2002-07-01 STG-001
Stagecoach Group

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Stagecoach Group signs SWT franchise amendment


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Stagecoach Group

Stagecoach Group signs SWT franchise amendment
_______________________________________________________________


date
1 July 2002
source Stagecoach Group
type Press release



Stagecoach Group and the Strategic Rail Authority today announce the signing of a Deed of Amendment to the South West Trains franchise which paves the way for a new long-term franchise and releases funds for immediate improvements to passenger services.

The agreement involving £29 million of SRA funding allows work on a number of projects to be progressed.

These include:

o £15.3 million for enabling works and feasibility studies to ensure the smooth replacement of slam door rolling stock
o £11.6 million for development studies for station and infrastructure works
o £2.1 million for passenger benefits, including additional train services and bus links

Keith Cochrane, Stagecoach Group chief executive, said: “This Deed of Amendment allows us to progress passenger improvements while franchise talks are continuing. Together with the new trains which are already on test, it means that we are on course for a long-term franchise agreement later this year.”

Graham Eccles, chairman of South West Trains, said the agreement was “very good news for our passengers.”

“Both the SRA and Stagecoach are committed to putting the needs of the passengers first. We are working closely with the SRA to ensure that our network is ready for the new trains and to improve services to passengers in the meantime. There is no need to delay these improvements while the fine details of the franchise are still being discussed.”

Inquiries to:
Robert Ballantyne, Stagecoach Group
John Kiely, Smithfield

Notes to editors:
Stagecoach Group has operated the South West Trains franchise, Britain’s biggest, since 1996, and the franchise expires in February 2003. The group was announced as preferred bidder for a new long-term franchise in April 2001. That same month Stagecoach Group announced a record £1 billion order for 785 new carriages built by Siemens and financed by Angel Trains. The first of the new trains is now on test and delivery into service is expected later this year.


Railhub Archive ::: 2002-07-01 STG-001





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