Network Rail now considers depot privatisation
Network Rail has confirmed that it has appointed accountancy major PwC (PricewaterhouseCoopers) to advise on depot sales.
The move is part of the drive to plug the £1.8bn funding gap in Network Rail’s finances identified by the November 2015 Hendy Review. Its 18 major stations are also up for grabs.
Network Rail has over 100 depots for traction and rolling stock maintenance purposes and owns all but half a dozen of them.
A Network Rail spokesman informed 21CR that it was not yet possible to disclose what depot sales proceeds would be expected to realise (or how much is being forked out in consultancy fees).
In addition to PwC, Network Rail has also hired the services of Rothschild, Citigroup, KPMG and Deloitte to advise on other aspects of assets disposals. As well as stations and depots, freight yards and power equipment are also being considered for sale.