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Leading graduate transport employer toasts new rail deal
Monday, 25 June 2007
Transport and utilities
Bus and rail firm Stagecoach, one of the UK's leading graduate transport employers, has been awarded a multi-million pound government contract to operate routes in the East Midlands.
The new Department of Transport award, set to be worth £235 million in annual total revenue, will begin in November this year and run until April 2015, with the last 16 months dependent on previous performance.
Stagecoach wins the deal from previous operator National Express, after promising to cut journey times between Sheffield, Derby and London and to spend some £5 million on station upgrades.
Brian Souter, chief executive of Stagecoach Group, commented: "We are delighted to be entrusted by the government with the contract to run a key rail franchise in a region that is the heart of the UK transport and logistics economy, with significant growth potential.
"We plan to win back customers from the car and grow the market by delivering a high-quality service that meets the diverse needs of short and long distance commuters, business and leisure travellers," added Mr Souter.