The redevelopment of Bond Street Tube station, a key element of the London Tube upgrade, moved a step closer as Transport for London (TfL) announced that it intends to award the contract for the redevelopment of the station to Costain Laing O'Rourke JV.

The contract is worth £300 million and main construction will get underway in 2011.

When completed in 2017, the redevelopment will transform the station delivering:

• A dramatic increase in station capacity ahead of the completion of Crossrail
• A new entrance and ticket hall north of Oxford Street to increase capacity and provide step free access to both the Central and Jubilee lines
• New escalators and an additional access route to the Jubilee line to reduce congestion
• An improved interchange between Central and Jubilee lines
• Step free access to the new Crossrail station
• Improved pedestrian areas around the station with new seating and lighting

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Kulveer Ranger, the Mayor of London's Transport Advisor, said: "This station emphasises the need for progress to be maintained on both upgrading the Tube and building Crossrail.

"London is the heartbeat of the UK and upgrades like this are vital to long-term job creation and economic growth around the whole of the country.

"Our focus at all times will be on delivering the infrastructure London needs at the best possible value for tax and fare payers."

It is the third major station upgrade contract awarded in last 12 months as the Tube upgrade continues.

(CD)