Train companies bid for franchise

The new franchise will last between seven and ten years

The three train companies who want to run rail services for the east of England have to put in their bids by Monday.

The Greater Anglia franchise will bring together all services currently run by Anglia, First Great Eastern and West Anglia Great Northern (WAGN).

In the running are GB Railways, which holds the Anglia Railways franchise, National Express, which runs WAGN and Arriva trains.

The franchise could be worth £0.5 billion and will last for between seven and ten years.

The Strategic Rail Authority believes that having one operator at London Liverpool Street station "makes good sense in operational and passenger service terms."

Tim Clarke, managing director of Anglia Railways told BBC News Online: "Our parent company, GB Railways, is submitting an innovative and attractive bid for the new franchise.

"If successful, we would very much welcome the opportunity to provide even better train services for East Anglia in the future, building on our fine record and reputation for customer service."

The Strategic Rail Authority is likely to name the winner by the end of the year, with the new franchise holder taking over in April next year.