Olympics, King’s Cross and electrification projects contribute to increased spending

Railway statio

Network Rail’s capital expenditure increased by over £600m in the 2011-12 financial year, the firm’s annual results reveal.

In 2011-12 the firm spent £4.6bn on capital projects, up from £4bn in 2010-11

Projects such as the new concourse at London’s King’s Cross station, new lines and stations for the Olympics in North London and electrification schemes on north west and western routes all contributed to the increased spend.

Patrick Butcher, finance director at Network Rail, said: “In a year where Network Rail has maintained financial discipline, we have continued to deliver a larger capital programme, building the capacity of the railway of tomorrow.”

As of the end of March the firm had already placed orders for £1.7bn of further capital works.