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Network Rail ramps up investment |
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Thursday, 01 November 2007 |
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The railway network will receive a massive cash injection after Network Rail today issued its Strategic Business Plan, which outlines its spending proposals from 2009 to 2014.
The rail operator plans to spend more than double the current amount on rail expansion schemes. Network rail plans to spend £9.6bn over the period compared to £4.3bn between 2004 and 2009.
Network rail has also earmarked £11.4bn over the period on renewing track, signals, structures and stations and £10.4bn on maintenance and day-to-day operating costs.
Chief executive Iain Coucher said: "Growth and expansion is where we will focus our efforts in the years ahead and today's plan highlights a raft of small, medium and large expansion schemes that will provide passengers and freight users with a bigger, better railway that delivers more trains, more seats, more often.
"Delivering a safe, punctual and reliable railway each and every day will always stay at the core of our business."
The document forms part of Network Rail's ongoing discussions with the Office of Rail Regulation about its funding requirements for the period.
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