Transport for London (TfL) has announced the shortlisted bidders to operate capital’s ticketing system up to 2022.
The companies – Cubic Transportation Systems Ltd, LG CNS Co CNF and Scheidt & Bachmann GmbH – will now submit detailed bids ahead of the contract being awarded by October 2014.
The successful bidder will be responsible for the providing and maintaining revenue collection systems at all 400 Tube, DLR and London Overground stations, plus 250 National Rail stations in London and the 4,000 High Street Oyster agents.
This will include ensuring all ticket gates are maintained, Oyster readers across the network are working and that systems are integrated to support plans to roll-out contactless payment cards across the network.
The contract term is for seven years with an early exit option at five years and extension options of up to three years.
Matthew Hudson, TfL’s Customer Experience Head of Business Development, said: “We now have a shortlist of bidders for the Electra contract and we will be providing further information to them about our detailed requirements over the coming months.
“One of the key things we will be looking for from the successful bidder is a contract that delivers the high quality of service and value for money that our customers demand.”