TRANSPORT for London (TfL) has awarded the contract for the Elizabeth Line to an international conglomerate despite Labour’s recent pledge to renationalise Britain’s railways within five years.

MTR Corporation (Crossrail) Limited’s operations are to be taken over by GTS Rail Operations Limited, a joint venture between Go Ahead Group, Tokyo Metro and Sumitomo Corporation.

TfL claimed its current approach would continue to offer “a high performing and cost-effective Elizabeth Line operation” as it announced the contract will begin in May and lasts for seven years, with an option to extend for an additional two.

But RMT general secretary Mick Lynch today warned the move “risks further short-changing passengers and undermining the financial sustainability of the capital’s transport system.”

“It is deeply concerning that while other parts of our rail network are being brought back into public hands, the Elizabeth Line is being left to funnel profits to private operators.”

City Hall has been approached for comment.