21.06.16
Network Rail appoints PwC to review options for depot sales
Network Rail has appointed PricewaterhouseCoopers (PwC) to advise it on the possibility of selling its light maintenance depots.
Network Rail said it has appointed the consultancy firm to overview the depots and discuss when and how would be the best way to sell them if it did decide to do so.
It currently owns around 110 light maintenance depots across the country.
“We have appointed PwC to advise us on that particular portfolio of assets, although no decisions have been made yet,” a Network Rail spokesperson told RTM.
Network Rail is trying to sell £1.8bn of ‘non-core’ assets to finance the delivery of its improvement programme, after it was criticised for financial difficulties in the Hendy Review. It is estimated that Network Rail’s debt could reach £50bn by 2020.
The infrastructure owner has also hired Citigroup for advice on the possibility of selling off 18 major stations, and is carrying out a consultation on selling off its electrical power assets.
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