Capita secures £355m deal with TfL
New deal will run until 2026
Capita has extended a lucrative deal with Transport for London, bagging it a further £355m.
The agreement will see Capita continue to manage the Congestion Charge, Low Emission Zone and Ultra Low Emission Zone in London.
Jon Lewis, Capita's chief executive officer, said: "We are delighted to be continuing to partner with Transport for London, working across Capita's divisions to manage and administer the Congestion Charge, LEZ and ULEZ.
"These new contracts will see us build on our existing partnership, which has already seen us launch ULEZ on time and on budget, and will draw on our track record of transformation and digitally enabled services, as well as adding value for our shareholders.
"Working with Transport for London, we will roll out new, expanded programmes that reduce the effects of air pollution on Londoners and make the streets safer for all road users and pedestrians."
Part of the deal, which will run until October 2026, will see Capita move the existing tech to operate the three zones to the cloud.
The outsourcing giant said it will recruit and train 900 new employees to deliver the new contract, who it said will be "encouraged to work from home".
Helen Chapman, TfL's director of lLicensing, regulation and charging, said: "These projects are vital to cleaning up London's toxic air, encouraging people to make more sustainable travel choices and keeping people safe on the capital's roads.
"The expansion of the ULEZ to the North and South Circular will be transformational, reducing road transport NOx emissions by around 30 per cent and improving air quality for millions of Londoners.
"We have extended Capita's contracts to deliver these services over the next five years and will continue to work with them to deliver value for money, and to maintain and improve customer services."
Capita's share price rose as much as eight per cent today.