European construction giants are increasingly finding themselves working far away from their homesteads, going where development is more rampant and financing more secure than what’s available in the post-crisis Eurozone. Nonetheless, rail projects back home in Europe are proving a reliable source of local revenue for many of these firms, as well as their competitors from outside the continent.
Network Rail, which oversees maintenance and development of the UK’s railway infrastructure, just announced plans to spend a little under £38 billion on revamping the network. The five-year initiative will bring up to 700 more trains, electrifying 850 miles of track, upgrades of several stations, and a new rail link between Oxford and Milton Keynes, as well as replacement of points, tracks, fencing, and platforms. continue reading..