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2016-06-16 MTR-001


FirstGroup/MTR joint venture to bid for South Western franchise

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South Western franchise

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FirstGroup/MTR joint venture to bid for South Western franchise

16 June 2016
source MTR
type Press release

Experienced operators join forces to deliver innovative, value for money bid

MTR is pleased to announce that it will be entering into a joint venture partnership with FirstGroup to bid for the South Western rail franchise.

The Department for Transport (DfT) has approved the joint venture, meaning FirstGroup/MTR will be one of two shortlisted bidders for the franchise, which is due to start in June 2017.

Announcing the joint venture, Jeremy Long, CEO - Europe, said:

"MTR is pleased to be partnering with FirstGroup for the South Western franchise bid. The skills and experience of our joint team will enable us to put together a compelling and innovative bid.

“South Western is a complex mix of shorter and longer distance services. Our joint venture will combine MTR’s experience of running successful London Overground and TfL Rail commuter services in the UK, and Stockholm Metro commuter and MTR Express inter-city services in Sweden, with FirstGroup’s strong track record of running commuter, inter-urban, regional and long distance services and delivering passenger growth.”

“MTR’s international experience of running integrated railways also means we can bring particular insights and expertise around the areas of the franchise jointly operated with Network Rail – including the Waterloo Integrated Control Centre, the Waterloo station team, and the capacity and planning teams and joint performance teams.”

Notes to Editors

The FirstGroup/MTR joint venture

o MTR Corporation (MTR) will take a 30% stake in the joint venture

o Both FirstGroup and MTR hold 'Pre-Qualification Questionnaire Passports' with the Department for Transport which shows that they have satisfied basic financial and other competence criteria and allows them to Express an Interest in submitting franchise bids to Government.

About MTR

o MTR Corporation (MTR) is acknowledged as one of the world’s leading operators of metro, commuter and airport rail systems and has a successful international consulting business. It is also a property developer, and manages shopping malls, retail units, apartments and other major buildings along some of its lines.

o In the UK, MTR is the operator of the Crossrail/Elizabeth Line concession, and is currently running TfL Rail services. MTR is a joint venture partner in London Overground Rail Operations Ltd (LOROL), which holds the concession until November 2016.

o Elsewhere in Europe, MTR runs the Stockholm Metro, will operate the Stockholm Pendeltåg commuter network from December, and provides open access MTR Express services between Stockholm and Gothenburg.

o Around the world, MTR: runs metro, light rail and Airport Express services and infrastructure, develops and manages significant rail-related property and is delivering new rail lines and major upgrade projects in Hong Kong; operates lines in Beijing, Shenzhen and Hangzhou in China; is lead shareholder in a joint venture operating the Melbourne train system and leads a Public-Private-Partnership (PPP) consortium which will deliver and operate the Sydney Metro Northwest in Australia.

o Listed on the Hong Kong stock exchange, MTR has a market capitalisation of approximately £19.5 billion, and is included on the FTSE4Good and Dow Jones Sustainability Indexes. It won over 50 awards in 2015 for quality, customer service and sustainability.

About FirstGroup

o FirstGroup plc (LSE: FGP.L) is the leading transport operator in the UK and North America. With £5.2 billion in revenues and 110,000 employees, it transported around 2.2 billion passengers last year. FirstGroup is one of the UK’s most experienced passenger rail operators, carrying around 140 million passengers last year, and is also one of the country’s largest bus operators running a fleet of some 6,200 buses. In North America, First Student is the largest provider of student transportation with a fleet of around 47,000 yellow school buses, First Transit is one of the largest providers of outsourced transit management and contracting services, while Greyhound is the only nationwide operator of scheduled intercity coach services.

Railhub Archive ::: 2016-06-16 MTR-001


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