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Investors - JANUARY 25, 2021

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Previously-closed rail routes in U.K. to reopen with $1.1b investment

by Kali Persall

The U.K. government has announced a £794 million ($1.1 billion) investment package to reopen two important rail routes that closed more than 50 years ago.

The funding, which was  announced last week by U.K. transport secretary Grant Shapps,  includes £760 million ($1 billion) for the delivery of the next phase of East West Rail, which will reinstate direct rail services between Bicester and Bletchley for the first time since 1968.

It also includes £34 million ($46 million) to rapidly progress plans to reopen the Northumberland line between Newcastle-upon-Tyne and Ashington, which closed to passengers in 1964 as part of the Beeching cuts.

The announcement marks part of the government’s commitments to build back transport infrastructure across the country by investing in rail connections that will boost economic growth, unlock new housing, and create jobs and opportunity.

“Returning these routes to their former glory and progressing work to reopen

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