Network Rail funding scheme

Network Rail is set to fund a GBP£1 billion scheme to electrify the track between Edinburgh and Glasgow, which could cut the journey time down to as little as 35 minutes.

The company is to borrow the sum against the value of its network, including stations and land. The arrangement means the Scottish Government will not have to increase its borrowing to realise the project.

The project has the completion date of 2016, and will boost services between Edinburgh and Glasgow to 13 an hour. The money will also create a new rail and tram interchange station at Gogar. The Dunblane line, which sees services travel through Stirling, is also to be electrified along with the Cumbernauld line as part of the programme.

Network Rail will use the investment to upgrade the network's existing track and signals infrastructure as well as major bridge and tunnelling strengthening works. The scheme also includes boosting the frequency of services between Glasgow Queen Street and Edinburgh Waverley to 13 an hour and adding new services on the Shotts and Carstairs lines.Those behind the scheme said it could deliver significant carbon benefit in comparison to existing diesel services, while every minute shaved off journey times is thought to generate up to GBP£60 million in benefits to the economy.

A Network Rail spokesman said: "Transport Scotland has asked Network Rail to use our Regulatory Asset Base to facilitate the funding of the Edinburgh-Glasgow Improvement Programme.

"This project has wide-ranging benefits for communities across the central belt of Scotland and we look forward to playing our role in delivering this ambitious programme."

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