London mayor Sadiq Khan has confirmed that Transport for London (TfL) is setting up a commercial trading arm to sell its technical and operational expertise to cities around the world.
A TfL spokesperson said that the plan, floated in Khan's 2016 mayoral election manifesto as one of a number of ways of keeping fares down, could bring in income 'worth tens of millions of pounds a year'.
The move is building on earlier outward-looking initiatives. In April 2016 came the announcement of trials, in Sydney, Australia, of London-style open fare payment using access to TfL's intellectual property rights.
Again, in July 2016, the agency signed a licencing deal worth up to £15m with the system's developer, Cubic Transportation Systems, which allows the company to tailor the technology for use elsewhere around the world.
TfL is already actively creating relationships with engineering, transport and management consultancies and pinpointing relevant commercial opportunities.
TfL commissioner, Mike Brown, told the London Assembly that the transport body 'is increasingly being sought out for transport management advice from around the world' and has now developed the necessary business case.
TfL is currently hunting for a head for the business, but a spokesperson was unable to give Transport Network a likely date for an announcement.
Register now for full access
Register just once to get unrestricted, real-time coverage of the issues and challenges facing UK transport and highways engineers.
Full website content includes the latest news, exclusive commentary from leading industry figures and detailed topical analysis of the highways, transportation, environment and place-shaping sectors.
Use the link below to register your details for full, free access.
Already a registered? Login
