Transport for London (TfL) has confirmed the signing of Bombardier's £1 billion Crossrail contract.

The Derby-based manufacturer was awarded the deal earlier this month, but the agreement was subject to a standstill period of ten days. It will see the company provide rolling stock and a new depot for the rail project.

A total of 760 jobs and 80 apprenticeships were secured when the contract was announced, dispelling fears that the firm could experience further disappointment. This was following the company missing out on the Thameslink project.

Boris Johnson commented: "The manufacture of these trains will not only revolutionise rail travel in London, they will deliver jobs and economic growth in their birthplace in Derby and across the UK."

Bombardier also has other contracts with TfL, including for the supply of 191 air-conditioned trains for the Circle, District, Metropolitan and Hammersmith & City underground lines. Additionally, it is providing extra carriages for the London overground service, as part of its drive to increase capacity.