||United Kingdom : Rail Freight fund announced
||Scottish rail freight is set to benefit from up to 25 million of ring-fenced funds to help strengthen the industry over the next five years.
The Scottish Government commitment was announced by Transport Secretary Michael Matheson during a visit to the Freightliner Terminal in Coatbridge today (9 May).
The fund is open to rail freight industry partners, including Network Rail and Transport Scotland, to table proposals for improvements which meet freight modal shift objectives. Innovative proposals which meet strategic objectives without costly infrastructure upgrades, for example wagons/locomotives or other interventions, are also welcome.
Mr Matheson said:
This Government has a strong track record of support for rail freight which we are committed to taking forward over the next five year funding period. We know that rail freight and modal shift to rail reduces road congestion, improves air quality, and reduces emissions.
Rail freight services are vital to sustainable economic growth across Scotland. This fund will support the development and delivery of strategic rail freight projects which improve capacity and capability. It aims to build on and complement our existing and future investment in Scotlands railways.
Working with Network Rail, we are also encouraging a sharper business-focus and setting challenging but achievable regulatory targets for freight in terms of average speed, performance and growth.
Paul McMahon, Managing director of Freight and National Passenger Operators at Network Rail, said:
Over the next five years weve committed to working with our industry partners to get new traffic onto Scotlands rails and todays announcement is welcome. We understand that Network Rail is vital to supporting freight growth, but this will only be realised by working in partnership with the wider industry.
"Thats why, in April, we launched the Industry Plan for Freight Growth in Scotland and this will help us to achieve the ambitions set out in that plan.
Maggie Simpson, Director General of the Rail Freight Group, added:
"This commitment from Scottish Government is welcome news for the rail freight industry and will allow vital upgrades to Scotlands railways, unlocking capacity and capability for new services. This is good news for freight customers, for the Scottish economy and for the environment."
The Fund will be administered by Transport Scotland and a new Scottish Rail Freight Forum will be established including members from across the industry. All work will be commissioned in a way that best secures value for money.
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