Image courtesy of Network Rail
Network Rail will conduct an assessment of its electrical power assets, and explore the potential of global investors and electricity network operators to deliver an electrified railway to the UK. By exploring the possibility to import funding and expertise is a keystone in Network Rail’s plan to enhance its competitiveness and improve its commercial performance.
Network Rail is currently selling off property to raise £1.8billion, to part fund a £40billion Railway Upgrade Plan. The Shaw Report published recently recommended financial reform, further devolution and better technological developments in order to meet the increasing demands on the British rail network.
Mark Carne, Network Rail chief executive, said:
“Continuing the historically high levels of investment in our railway that we’ve seen over the last decade is absolutely vital if we’re to provide the railway Britain needs in the years ahead. Better railways drive economic growth, housing and jobs.
“Our approach is all about financial discipline, with a renewed focus on our core activities while being open and innovative about new sources of finance to fund our growing railway.
“Network Rail’s job is to help support Britain’s economic growth by providing the railway that Britain needs, today and in the future. While no decisions have yet been made, if there are investors or others with expertise in key areas who can help us do that, then we should look to embrace those opportunities.”
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