Capita PLC (LON:CPI) announced the extension to its contracts with Transport for London (TfL) from October 2021 to October 2026.
Under the £355mln deal, the outsourcing firm will continue to manage London’s Congestion Charge, Low Emission Zone (LEZ) and Ultra Low Emission Zone (ULEZ).
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It also includes new work associated with the expansion of LEZ, ULEZ and Direct Vision Standards, including the latter’s new scheme for heavy goods vehicles, aimed at reducing pedestrian, cyclist and motorcyclist accidents.
The firm anticipates recruiting and training an additional 900 new staff to deliver the expanded service, with most encouraged to work from home.
Transport for London recently extended the C-Charge to weekends and raised to the cost to £15 to secure a COVID-19 bailout from the government.
Shares advanced 4% to 38.6p on Monday at the opening bell.