Performance figures, December 2000-March 2001 (SRA, 2001)

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date 14 January 2002
source Railtrack Group
type Press release

Tuesday 15 January 2002
Released: 14 January 2002

Railtrack Group Chief Executive, Steve Marshall applauded the Strategic Rail Authority (SRA) for the necessary vision but queried whether the financial foundations were solid enough to deliver the strategic plan.

“The future of the railways is fundamentally linked to the investment it receives over the next five, ten and twenty years and the people who work in it. The plan has to be applauded for recognising this and looking at innovative ways of addressing the issues.

“It is also very encouraging that the plan itself recognises the need to stabilise the industry and restore confidence of investors. This will require urgent action. Currently, the spectre of the treatment of Railtrack – as it languishes in administration – and its investors who are being invited to underpin massive new investment casts a shadow over the delivery of the plan.

“The plan assumes a massive contribution from the private sector. Such investment will be prohibitively expensive or unforthcoming unless the following is done:

o Restore the confidence of Railtrack’s private investors by ensuring they get fair value – no more – for their investment.
o Implement a fast track plan – with a timetable – to get Railtrack out of administration with a simplified industry and regulatory structure.”

ENDS

Railhub Archive ::: 2002-01-14 RTK-001