Amey and Keolis joint venture wins €1.75bn Luas tram service operation contract in Dublin
By Global Infrastructure Sherpa · Feb 26, 2026
A joint venture between Amey and Keolis has been selected as the preferred bidder for the €1.75 billion Luas tram service operation and maintenance contract in Dublin, Ireland, with operations set to begin later in 2026.
Deal Analysis
The joint venture between Amey and Keolis has secured the significant €1.75 billion contract for the operation and maintenance of Dublin's Luas tram service, with operations commencing in late 2026. This award by Transport Infrastructure Ireland (TII) represents a substantial long-term commitment to the city's light rail infrastructure, entrusting its daily functionality and upkeep to a new consortium. The deal underscores TII's strategic decision to leverage private sector expertise for critical urban transport services, ensuring continued reliability and efficiency for Dublin's growing public transport network.
This contract win is notable for several reasons. It brings together Amey, a UK-based infrastructure support specialist with a strong focus on transport, and Keolis, a leading global operator of public transportation systems. Their combined experience in both infrastructure maintenance and operational delivery positions them strongly to take over from incumbent operator Transdev. The €1.75 billion value highlights the scale and long-term nature of the commitment, making it a significant transaction within the European urban transport sector and a key development for the Irish infrastructure market.
- €1.75 billion contract value for operation and maintenance (O&M).
- Joint venture between Amey (infrastructure support) and Keolis (public transport operations).
- Awarded by Transport Infrastructure Ireland (TII) for Dublin's Luas tram service.
- Represents a change from incumbent operator Transdev.
Market Context: The deal is situated within the dynamic urban public transport sector, specifically light rail, which is experiencing ongoing investment and modernization across European cities to meet growing demand and enhance connectivity.
Source Intelligence
KEY DETAILS
The contract is for operation and maintenance of the Luas tram service. The deal will run for an initial seven years with an option to renew for five to seven more years. Transport Infrastructure Ireland (TII) began seeking a new operator in 2023. The process is currently in a 14-day mandatory standstill period. Staff at the incumbent company are expected to transfer to the new operator.
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Deal Size
Luas operator Transdev has lost out on the €1.75 billion Luas contract
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Location
Luas operator Transdev has lost out on the €1.75 billion Luas contract after 22 years running the service
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Announcement
The paper said the French company notified staff that it had not been selected as the preferred bidder for the contract in an email on Thursday morning.
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COD
The deal will run from mid 2026 for an initial seven years
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Expected Close
The deal will run from mid 2026 for an initial seven years
PARTIES MENTIONED IN SOURCE
T
Transdev
incumbent operator/losing bidder
"Transdev loses €1.75bn Luas contract after running tram service for 22 years"
A
Amey
preferred bidder/new operator
"a British and French joint venture between Amey and Keolis has been selected as the preferred bidder"
K
Keolis
preferred bidder/new operator
"a British and French joint venture between Amey and Keolis has been selected as the preferred bidder"
T
Transport Infrastructure Ireland (TII)
contracting authority
"State agency Transport Infrastructure Ireland (TII) began to seek a new operator for the contract in 2023"
high quality
Enriched Feb 27, 2026
Market Context
This deal is part of the Transport sector in Ireland.
1 of 124 Transport deals tracked this month · Updated daily
Global Infrastructure Sherpa