DfT invites bids to its rail re-opening fund

The DfT has published more details of its £500m fund to restore old railways and open new stations across England and Wales.

The grant, now known as the Restoring Your Railway Fund, will support projects in three stages of development: 

• an ideas fund
• accelerating existing proposals
• proposals for new or restored stations

Applications to the  ideas fund are invited from MPs, working with local authorities and community groups. Proposals will be put to a panel of experts chaired by transport minister Chris Heaton-Harris.

The most promising applications will be eligible for 75 per cent of costs, up to a cap of £50,000, to develop an initial business case.  

There will be two rounds of project assessments, in March and June. Expressions of interest for the first assessment must be submitted by 28 February. 

For projects that already have an initial business case, the DfT will consider providing further support to accelerate their development. Applicants are invited to email the Department with their request. 

The DfT will soon open bids for a new round of the New Stations Fund with a value of £20m. The core criteria will be similar to previous rounds.  

Curiously, the Prime Minister said last week that the fund would be worth £1.5bn, not the £500m previously stated by the Government.