Transport for London (TfL) has announced a £1.5 billion contract to build nearly 100 new Tubes along the Piccadilly line in order to increase peak-time capacity by 21,000.

The contract has been awarded to Siemens Mobility who will begin building 94 new Tube trains along the Piccadilly line from 2023 onwards.

By the end of 2026 the number of peak services every hour will have increased from 24 to 27 and the transport body are hoping that by the end of the 2020s an additional 21,000 customers will be able to board trains every hour during peak times.

Mike Brown, commissioner of TfL, said: “We are delivering the biggest investment programme in our history to continue to improve customers’ journeys and support London’s population and employment growth.

“These trains will transform the journeys of millions of our customers, and provide faster, more frequent and more reliable trains for decades to come.”

As well as replacing the tubes along the line TfL will replace the signalling and control systems which are predicted to deliver a 36 per cent increase in capacity across the four lines by 2035.

This long-term sustainable investment will support London’s growing population which is set to increase to 10.8 million by 2041, supporting new jobs, homes and growth, benefiting the whole UK economy.