Network Rail fined £53.1m for trains running late July 7, 2014 Network Rail has been handed a record £53.1m fine for missing punctuality targets, the industry regulator reported today. In its assessment of the company that runs Britain's tracks, the Office of Rail Regulation (ORR) criticised Network Rail for falling "significantly short" of the funded 92 per cent average punctuality targets, achieving just 87 per cent. [...]
Babcock and Carillion win Network Rail work May 12, 2014 NETWORK Rail yesterday announced its preferred bidders for lucrative contracts to run its conventional track renewals and improvement work for the next five years. Babcock International won work over three of the seven geographic lots to deliver plain line tracks for Network Rail. The lots are made up of Western, Wales and Wessex; Scotland and [...]
Network Rail unveils preferred bidders for track renewals May 12, 2014 Network Rail has announced its preferred bidders for conventional track renewals and improvement work for the period 2014-19. Babcock International has won work over three of the seven geographic lots to deliver plain line tracks for Network Rail. The lots are made up of Western, Wales and Wessex; Scotland and LNW South, which are worth [...]
Network Rail totting up cost of flood defence March 31, 2014 NETWORK Rail has set out its £38bn upgrade plans for the next five years, though new boss Mark Carne underlined the difficulty of cutting running costs while keeping Britain’s railways in shape. Carne and his team are totting up how much more money they will need to protect the railways against the weather, following the [...]
Network Rail braced for delay fines March 31, 2014 NETWORK Rail, the public body that runs Britain’s railways, is braced for fines of around £70m for falling short on punctuality targets in recent years. The Office of Rail Regulation has the power to penalise Network Rail if less than 92 per cent of trains arrive within 10 minutes of the schedule, and figures this [...]
Mitie trading in line as it unveils new £75m Network Rail contract March 20, 2014 OUTSOURCING company Mitie yesterday said that it expects to deliver full-year results in line with expectations, as it unveiled a new £75m Network Rail contract. The FTSE 250 firm has been reducing its exposure to the loss-making construction element of its asset management business, but said it expects a one-off impairment of around £10m to [...]
Network Rail to open click and collect shops December 2, 2013 COMMUTERS will be offered the chance to pick up their parcels from the train station as part of a trial being run by Network Rail. The rail operator announced today that it will soon open the prototype branch of Doddle, its new delivery shop, in Milton Keynes Central. Visitors to the station, including around 3,000 [...]
Network Rail slammed for not spending its budget on repairs November 28, 2013 NETWORK Rail has been criticised for spending £1.2bn less than expected on maintaining the railways over the last four years and causing more than half of the delays endured by British passengers. The Office of Rail Regulation said Network Rail was responsible for 1.7m minutes of delays between April and October, after infrastructure failures rose [...]
Network Rail spends more on track work as delays increase November 21, 2013 NETWORK Rail, the operator of Britain’s train tracks, spent £15m a day on upgrade work in the six months to the end of September, as the group added £253m to its debt pile to take the total past £30.6bn. The government-funded company said it invested a third more than it did a year ago on [...]