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HS1 renews contract with Network Rail to 2025

High speed rail owner HS1 Ltd has extended its contract with Network Rail allowing the latter to operate and maintain the line until at least 2025.

Network Rail (CTRL) and HS1 Ltd have a contract in place to 2047, which included the right for HS1 Ltd to market test for alternative service providers and terminate the contract in 2015 by giving notice by 31 March 2012.

However, HS1 Ltd chief executive Nicola Shaw said that the quality of delivery had been “good” over the first few years since the contract began in 2007.

The new deal will see the organisations share 50/50 in any financial outperformance by Network Rail.

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