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Nexus names preferred Metro bidder

Nexus, which owns, manages and is modernising the Tyne and Wear Metro, has announced that DB Regio (Tyne and Wear) Ltd. is the Preferred Bidder for a contract to operate trains and stations on its behalf. It will now finalise contract details with the bidder to agree an operating concession of seven to nine years to begin on April 1 2010. Nexus will continue to own Metro, will set fares and service specifications directly.

Nexus is due to set out details of modernisation work to be carried out through the Metro: All Change programme in the next three years.

Creating an operating concession will allow Nexus to unlock more than GBP300 million in capital funding towards modernisation projects plus continuing operating subsidy over nine years. The funding package from Government is still to be agreed but Nexus expects it to be worth around GBP600 million.

4 December 2009


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