Written Question · S3W-29023 · Session 3
What projects Network Rail has contracted to finance, on behalf of the Scottish Government, from borrowing against its regulated asset base…
The question
To ask the Scottish Executive what projects Network Rail has contracted to finance, on behalf of the Scottish Government, from borrowing against its regulated asset base, broken down by (a) project and (b) repayment timescales.
The answer
The Periodic Review for Control Period 4 (2009-14) includes confirmation from the Office of Rail Regulation that the projects Airdrie to Bathgate, GARL mainline and Glasgow Barrhead Kilmarnock are funded through the Network Rail Regulatory Asset Base (RAB). The associated payments are included within the current determination payments to Network Rail.
Transport Scotland is also pursuing the necessary process with Network Rail and the Office of Rail Regulation to secure the use of RAB finance for a number of other projects, including: the Edinburgh“Glasgow Improvements programme; the provision of escalators and lifts at Edinburgh Waverley; extended platforms and other infrastructure works in Ayrshire and Inverclyde to facilitate the introduction of the new electric train fleet and improvements to parts of the Highland rail network.
RAB funding is where Network Rail finances the investment, from borrowing against the value of their asset base and repays the loans from the revenue stream provided by government over the life of the project, which for rail is normally thirty years.
Transport Scotland is also pursuing the necessary process with Network Rail and the Office of Rail Regulation to secure the use of RAB finance for a number of other projects, including: the Edinburgh“Glasgow Improvements programme; the provision of escalators and lifts at Edinburgh Waverley; extended platforms and other infrastructure works in Ayrshire and Inverclyde to facilitate the introduction of the new electric train fleet and improvements to parts of the Highland rail network.
RAB funding is where Network Rail finances the investment, from borrowing against the value of their asset base and repays the loans from the revenue stream provided by government over the life of the project, which for rail is normally thirty years.
In the Official Report
1 contribution mention S3W-29023-
17 Dec 2009SCOTTISH EXECUTIVE
To ask the Scottish Executive, further to the answer to question S3W-29023 by Stewart Stevenson on 3 December 2009, what payments are to be made to Network Rail for the Airdrie to Bathgate, Glasgow Airport rail link main line and Glasgow-B…