The UK’s Transport for London (TfL) announced that London Underground (LU) has become Europe’s first rail authority to achieve certification against ISO 55001, the new international standard for asset management.

ISO 55001 is a major achievement and shows LU’s commitment to provide the best value for Tube customers.

LU manages 274 stations, signalling and depots as well as an extensive and varied asset base, including a train fleet nearly three times larger than any other train operator in the UK.

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Auditors from Lloyd’s Register, who visited locations across the Tube network and interviewed a mix of staff from all areas of the asset lifecycle, have awarded the ISO 55001 certification.

"By 2030, London’s population is expected to grow from the current 8.6 million to around 10 million and best practice asset management is required to meet this increasing demand."

Lloyd’s judged asset management practises of LU in order to meet all aspects of the new world class standard.

London Underground Asset Strategy and Investment head Andy Jinks said: "Last year we operated around 80 million kilometres of track across London and supported over 1.3 billion passenger journeys, more than ever before in our 152 year history.

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"Asset management is key to delivering this ongoing success. Receiving ISO 55001 certification proves we are spending our funds effectively and taking a whole-life cost approach, finding the right balance between maintenance and renewal."

By 2030, London’s population is expected to grow from the current 8.6 million to around 10 million and best practice asset management is required to meet this increasing demand.

In order to meet this demand, LU is conducting a huge modernisation programme, with major stations, trains, track and control systems being updated or replaced to provide more capacity for a growing city.

As part of the programme, each line is being improved and LU will see more than a 30% increase in capacity, assuming the existing investment programme is maintained.

The programme also includes redevelopment work to increase capacity at key stations and make them step-free is underway at stations such as Victoria, Tottenham Court Road and Bond Street.

In order to make them brighter and easier to use, more than half of LU’s 270 stations have now been improved with tactile strips, better CCTV and help points, electronic information displays in ticket halls and on platforms and improved seating and lighting.

According to TfL, new air-conditioned walk-through trains are being introduced on 40% of the LU network.

The Circle, Metropolitan and Hammersmith & City lines already have these trains in service and they are now also on the District line.