Record investment in Britain’s railways as Network Rail publishes its half-year results

Published on : Thursday, November 21, 2013

Reading stationNew platforms, new lifts, new information systems, new concourses, new footbridges, new track; all have featured as record investment has been ploughed into Britain’s railways over the past six months.

 

Network Rail today published its half-year results (for the period 1 April to 30 September 2013) which revealed that £2.74bn, some £15m per day, was invested in improving and building a bigger, better railway – 33% up on the same period last year and 53% higher than just four years ago.

 

Patrick Butcher, group finance director, said: “The railway continues to experience tremendous growth and we are responding to that demand through the biggest sustained investment programme since Victorian times.

 

“With a million more trains and half a billion more passengers than 10 years ago our railways are all but full. We are squeezing all we can out of the existing network and new railway lines, such as HS2, must be built to deliver the step-change in capacity that Britain’s vital rail arteries need.”

 

Over the past six months some significant investment milestones have been reached, including:

 

 

 

As well as these major milestones over 5,000 projects have been completed over the last four and a half years (since the start of our current funding period called CP4 – 1 April 2009 to 31 March 2014). These smaller, but just as important projects aimed at making incremental improvements to the railway for the benefit of passengers, and have seen:

Over the six months to 30 September:

 

Mr Butcher concluded: “We continue to invest record amounts to deliver a bigger, better railway for passengers and businesses across Britain. We are also driving down the cost of running Britain’s railway to help make it more affordable in the years ahead. Train performance is still at high levels by historical standards, but has fallen behind our targets as we struggle to get more and more out of an ever overloaded network.”

 

 

Source:- Network Rail

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