The money will be spent between 2019 and 2024 on maintenance and renewal, including the renewal or refurbishment of almost 400km of track and the renewal of a Grade II listed viaduct. The £2bn Wales and Borders route budget set out in the Office of Rail & Road's final determination represents a 28% increase on the last five-year funding period.
It will support Transport for Wales’ investment of £5bn over 15 years, which will be spent on new trains, improved stations and increased capacity across the network.
Bill Kelly, route managing director for Network Rail Wales and Borders, said: “This is fantastic news for Wales and Borders at a time when we are seeing unprecedented levels of investment in the railway. We’ve put passengers and our freight customers first in developing our five-year plan, which will make the railway safer and more reliable for the thousands of customers who use it every day.
“This record funding, together with the significant investment planned by our partners Transport for Wales, represents a truly once-in-a-generation opportunity to transform rail services for the people of Wales and Borders.”
Maintenance and renewal work to be carried out by Network Rail across the Wales and Borders rail network in the next five years includes:
- renewing or refurbishing 398km of track;
- bridge renewals;
- earthworks to improve the resilience of the railway in extreme weather;
- signalling renewals, such as the Port Talbot resignalling scheme;
- renewing the Grade II listed Barmouth viaduct;
- renewing the pumps at Sudbrook pumping station, which pumps water from the Severn Tunnel.