Rail bosses unveil £5.6bn investment plans

Grant Prior 13 years ago
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Rail leaders have revealed plans to invest £5.6bn in the network between 2014 and 2019.

Network Rail hopes to secure government funding for its Initial Industry Plan after outlining efficiency savings in running the railways of £1.3bn by 2019.

Cash is being saved by a revolution in rail procurement and closer collaboration with contractors which Network Rail hopes will save another 16% during the period.

The new investment plan comes on top of £4.9bn already committed to complete schemes like Crossrail and Thameslink.

Paul Plummer, group strategy director, Network Rail said: “Closer collaboration within the industry will deliver even more efficiencies.

“This revenue growth and improved efficiency taken together provide governments with real choices to consider, choices around the appropriate balance between investment, fares and subsidy.”

Plans in the £5.6bn investment programme include:

These new opportunities, which deliver faster, more frequent services for passengers and freight users, include:

Further electrification – Midland main line, North Trans-Pennine, Cardiff Valleys and further schemes in Scotland

Further development of the freight network to provide capacity for a 30% increase in freight tonne kilometres

Improvements for medium-to-large- size stations such as Fenchurch Street, Wimbledon and Liverpool Central

£200m scheme to improve journey times and increase the numbers of services to and from Inverness and Aberdeen and to the commuter network of the two cities.

Civil Engineering Contractors Association director of external affairs Alasdair Reisner said: “With the rail sector currently playing a crucial role in supporting output in the UK infrastructure sector, many contractors will have an eye on the likely shape and size of the market after 2014.

“The IIP gives a first fl avour at what this future might look like. We welcome the continuing push for investment in the network, and the work that Network Rail has done with industry to drive greater efficiency.

“We look forward to continued engagement with Network Rail, the ORR and other stakeholders as we work towards a final determination in 2013.”

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