In July 2017, we committed to a series of reforms designed to make it easier for third parties to fund, finance or deliver work on the railways.
The reforms were in response to recommendations made by the Hansford Review, which you can read about in more detail here.
As part of our ‘Open for Business’ work, we have identified a small number of projects which we believe could be good for the railway and would also deliver wider economic benefits, making them suitable for potential third party funding. The projects listed are enhancements, where we are seeking third party funding for development or delivery. This list does not include renewal projects, or any projects which could be suitable specifically for third party delivery or financing at this stage.
This is a list of potential opportunities for third parties and inclusion does not necessarily represent a commitment to deliver a project. Some of the enhancement projects are at a very early stage of development and we are inviting interest from third parties to help us explore whether the project and the approach are viable, whilst others are more advanced. Examples of schemes, for which third parties are providing funding, include the redevelopment of Coventry station and a new station at Robroyston.
The projects would be progressed on a staged basis, subject to third party funding for that stage, to enable the scope, requirements/outcomes, supporting business/value case, costs and benefits to be confirmed.
The publication of this list is complemented by the publications by the Department for Transport of guidance for market-led proposals. It is also in line with the Department’s publication of the Rail Network Enhancement Pipeline, which sets out the UK Government’s approach to railway enhancements in Control Period 6 (2019-2024) and beyond. The Scottish Government’s approach to investment in Scotland’s railway is set out in its Rail Enhancements & Capital Investment Strategy, published on 19 March 2018.
We have appointed Business Development Directors into each of our routes to ensure we have people with the right skills to work collaboratively with businesses, local authorities and other public sector bodies to bring in new sources of funding to the railway.
We plan to add to this list in future, as further potential opportunities for third parties are identified.
If you would like to find out more about a specific project, or our work on Open for Business, please contact your local Business Development Director, whose details can be found here.