Rugby Parkway, Warwickshire, England

Milestone: Ongoing development and funding strategy support

Key details: Warwickshire County Council is currently promoting the delivery of a railway station providing new rail access to a Sustainable Urban Extension SUE) site that, once complete, will introduce a population of 14,600 to the area. Located at the crossroads of the UK strategic highway network, easily accessible from the M1, M6, M45, A5 and A14, Rugby Parkway will support significant transfer of journeys from road to rail. SLC is providing specialist rail support to Warwickshire County Council to manage the securing of consents and rail industry design approvals that, once delivered, will provide the opportunity to secure a strategic development partner to finance the delivery stage of the project.

Team involved / roles: 

Ian Walters:  Providing strategic financial and commercial advice and oversight to ensure project activities are aligned with the aims of achieving the overarching finance strategy.

Tony Cahill: Supporting the client to assess various development, funding and delivery options for progressing the project to identify a preferred private developer solution. He is leading the development of the financial case, and production of a financial model to support the next stage of investor engagement.

Global Centre of Rail Excellence, Onllwyn, Wales

Milestone: Ongoing development and funding strategy support

Key details: The Global Centre of Rail Excellence (GCRE) will be a purpose-built site for world class research, testing and certification of rolling stock, infrastructure and innovative new rail technologies to serve the UK, and Europe. The facility scope will include two electrified test loops, one a 7km high speed rolling stock track with a maximum speed of around 177km/h (potential for 201km/h under review) and another, infrastructure test track. SLC continues to provide specialist rail advice to GCRE supporting the process for identifying and securing a long-term strategic investment partner to source private investment that will allow completion of facility.

Team involved / roles: 

Ian Walters: Providing specialist strategic advice to identify and assess options for the commercial structuring and sourcing of private finance to support funding the project.

Tony Cahill: Providing support to the executive GCRE team for the structuring of project information financial documentation to ensure information is comprehensive and meets requirements of private investor due diligence process.

Cowley Branch Line, Oxfordshire, England

Milestone: Ongoing development and funding strategy support

Key details: A rail scheme jointly promoted by Oxford City Council and Oxfordshire County Council to re-open passenger rail services and deliver two new stations on the Cowley Branch Line in Oxford. The new rail stations would connect significant employment sites and residential areas to the city centre in less than 10 minutes, with direct connections to Oxford Parkway, Bicester, London and connections via Oxford to East West Rail. SLC is currently supporting the joint promoters during the ongoing Full Business Case stage to develop a finance and funding strategy with the aim of sourcing a local contribution from private landowners towards funding the project.

Team involved / roles:

Tony Cahill: Leading the finance and funding strategy workstream, which involves collaborative engagement with the joint local authority promoters and landowners to negotiate and agree a financial structure that unlocks private contributions towards funding a proportion of the project.

Cardiff Parkway, Cardiff/Newport, Wales

Milestone: Ongoing development and funding strategy support

Key details: A third party privately promoted new railway station linked with an adjacent commercial development that is anticipated to support the creation of 6,000 jobs and is forecast to generate more than 800,000 passenger trips a year. The new station would provide journey times of 7 minutes into Cardiff Central and Newport South Wales, drastically reducing current journey times, and promoting modal shift from private car to sustainable rail transport. SLC has supported the private developer progress the business case, in particular the finance and commercial strategy that proposes the private finance, delivery and ownership of the station.

Team involved / roles: 

Mike Haigh: Led on on the production of the commercial elements of the outline business case and negotiation of high level terms with key rail industry parties including DftT, Network Rail, the ORR and rail operators.

Ian Walters: Led on on the production of the financial elements of the outline business case and independent review of the project financial model.

Intercity Express Programme – Phase 2 (ECML), UK

Milestone: Rolling stock entry into operational passenger service

Key details: In 2020, the full suite of 65 bi-mode and electric trains and associated new maintenance infrastructure delivered as part of IEP Phase 2 was complete, and available for passenger operational service by the train operator, LNER. The new IEP trains were manufactured in Hitachi’s plant in Kasado, Japan and transported by sea to the UK for full assembly and commissioning into service at Hitachi’s facility located in Newton Aycliffe, UK.

Team involved / roles: 

Andy Pearson:  As Company Director of Agility Trains East, he provided support and governance at board level on behalf of John Laing as an investor and shareholder. He provided executive oversight and advice to the Agility Trains East management team, who were tasked with day to day management of the project.

Intercity Express Programme – Phase 2 (ECML), UK

Milestone: Rolling stock asset successfully divested.

Key details: In 2020, John Laing successfully divested its equity and shareholding in Agility Trains East, which was the Project Company set up for the Intercity Express Programme – Phase 2. The approach required satisfactory resolution of key delivery and contractual commercial matters with the client, and the rolling stock manufacturer to deliver all train vehicles to client specification, to ensure the asset was in a robust position prior to commencement of the divestment process.

Team involved / roles: 

Andy Pearson:  As Company Director of Agility Trains East, he provided support to the divestment team acting on behalf of John Laing and oversaw successful completion of key construction matters with the train manufacturer.

Tony Cahill:   Working as a specialist consultant for John Laing via SLC, he managed the technical and commercial elements of the divestment process, which required coordination and management of technical and financial specialists to develop a fully comprehensive suite of due diligence material, including development of a new financial model to be shared with purchasers.

Worcestershire Parkway, Worcestershire, England

Milestone: New railway station enters operational passenger service

Key details: Development and delivery of a new £30m split level station with three platforms, a staffed station building, bus interchange and car park situated where the North Cotswold and Cross Country lines cross in Worcestershire. The project was promoted as a third party scheme by Worcestershire County Council, and entered operational service in February 2020. Since then, rail patronage usage has exceeded expectations, reaching year 10 demand levels by year 4 of operations. SLC supported the production of a robust business case, including development of a funding strategy and commercial structure that shaped into an innovative Local Authority developed, procured, financed, and delivered new railway station.

Team involved / roles: 

Ian Walters:  Led on the production of the business case and development of the commercial elements of the project. He supported the process of securing stakeholder endorsement of the project, and then led procurement of the JCT design & build contract to appoint a construction contractor.

Mike Haigh:  Led on the development of the contractual structure and negotiation of terms with Network Rail,  the ORR, two major train operators and the DfT to achieve acceptance of the funding model.

Private Investment in Rail Electrification (PRIME), UK

Milestone: Submission of an unsolicited proposal to privately finance new electrification infrastructure

Key details: Between 2020-21, SLC produced an innovative unsolicited proposal to develop, finance, own and operate new railway electrical infrastructure. The PRIME model developed by SLC does not require government funding or guarantee commitments, thus the structure is categorised as off-balance sheet from a financial accounting perspective. SLC received commitment from a private infrastructure investor, that was prepared to move forward into a partnership arrangement with SLC to invest capital and progress the engineering development for a selected route.

Team involved / roles:

Ian Walters: Provided guidance and oversight of the unsolicited proposal process, ensuring the model was as efficient as possible, and aligned with rail industry and private investor strategic objectives.

Tony Cahill:  Supported the production of the unsolicited proposal, including development of the commercial structure, payment mechanism and creation of a financial model that received private investor endorsement.

'New Generation Rollingstock', Queensland, Australia

Milestone: Rolling stock entry into operational passenger service

Key details: In 2019, the full fleet of 75 electric trains and the new bespoke maintenance facility in Wulkaraka, Queensland was delivered, and available for passenger operational service by the train operator, Queensland Railway. The ‘New Generation Rollingstock’ were manufactured in Bombardier (now Alstom) plant in Savli, India and transported by sea to Australia for testing and commissioning in Queensland, prior to entering into operational service.

Team involved / roles: 

Tony Cahill: Provided technical and commercial support to the project team during the manufacturing phase to assess progress against programme and manage the due diligence process to ensure accurate reporting of technical and commercial matters was provided to shareholders and senior lenders.

Denver Eagle Project, Colorado, USA

Milestone: New commuter rail project fully enters operational passenger service

Key details: Completion of the third and final new commuter rail line was achieved in April 2019, which culminating a 9 year development and delivery phase to construct over 35 miles of new commuter rail on three lines, along with rolling stock and maintenance facilities. The project delivery stage was complex with significant interfaces across large areas with local stakeholders and existing rail operators. John Laing provided proactive support and leadership to the project during the delivery stage at executive Project Company board level, and day to day management level.

Team involved / roles: 

David Rushton:  Project Company Director for over 6 years and was elected Chairman of the Board of Directors. He was involved extensively during the project implementation and delivery phases providing oversight and guidance to the management team.

Intercity Express Programme – Phase 1 (WCML), UK

Milestone: Rolling stock entry into operational passenger service

Key details: In 2018 the full suite of 57 bi-mode and electric trains and associated new maintenance infrastructure delivered as part of IEP Phase 1 was complete, and available for passenger operational service by the train operator, Great Western Railway. The new IEP trains were manufactured in Hitachi’s plant in Kasado, Japan and transported by sea to the UK for full assembly and commissioning into service at Hitachi’s facility located in Newton Aycliffe, UK.

Team involved / roles: 

Andy Pearson:  As Company Director of Agility Trains West, he provided support and governance at board level on behalf of John Laing as an investor and shareholder. He provided executive oversight and advice to the Agility Trains West management team tasked with day to day management of the project.

Intercity Express Programme – Phase 1 (WCML), UK

Milestone: Rolling stock asset divestment

Key details: In 2018, John Laing successfully divested its equity and shareholding in Agility Trains West, which was the Project Company set up for the Intercity Express Programme Phase 1. The approach required satisfactory resolution of key delivery and contractual commercial matters with the client, and the rollingstock manufacturer to deliver all train vehicles to client specification, to ensure the asset was in a robust position prior to commencement of the divestment process.

Team involved / roles:

Andy Pearson: As Company Director of Agility Trains West, he provided support to the divestment team acting on behalf of John Laing and oversaw successful completion of key construction matters with the train manufacturer.

Tony Cahill:  Supported the technical and commercial elements of the divestment process, which required coordination and management of technical and financial specialists to develop a fully comprehensive suite of due diligence material, including development of a new financial model to be shared with purchasers.

Kenilworth Station, Warwickshire, England

Milestone: New railway station enters into operational passenger service

Key details: The delivery of the new Kenilworth Station was the second phase of a larger scheme known as NUCKLE (Nuneaton, Coventry, Kenilworth, Leamington Spa). Kenilworth’s new station provided a much-needed rail service for the town’s 25,000 population. It is on the site of the old Kenilworth station (closed in 1965) and is served by a rail passenger service running between Leamington Spa and Coventry. SLC, as rail advisors to Warwickshire County Council, developed the scheme from initial aspirations through a successful application to the New Stations Fund and managed the procurement and delivery of the design and build contract through to full station opening.

Team involved / roles: 

Ian Walters:  Provided specialist rail advice to support production of the new station business case, and preparation of the New Stations Fund application to the DfT. This resulted in successfully securing a £5m grant contribution to allow subsequent procurement and delivery of the project.

DfT Market Led Proposal, UK

Milestone: Unsolicited proposal to DfT for privately developing and financing new railway stations

Key details: In 2018, the Department for Transport held a call for ideas for Market Led Proposals (MLP) for rail projects, which were privately funded or financed by third party promoters. SLC subsequently formed a consortium partnership with a local authority station promoter and a UK infrastructure developer and investor and submitted a comprehensive MLP to the DfT setting out the detailed principles, roles and responsibilities to finance, develop and deliver a new railway station.

Team involved / roles: 

Ian Walters:  Led the formation of the consortium with public and private sector partners and the production of a comprehensive MLP submission to the DfT.  The proposal built upon previous success of utilising enhanced farebox revenues to source private removing for new stations, removing the need for government grant funding.

Aylesbury Vale Parkway, Coleshill Parkway & CGL Light Rail, UK

Milestone: Railway station assets successfully divested to infrastructure fund.

Key details: In 2017, John Laing successfully divested its equity and shareholding in three rail assets to an infrastructure fund at a premium to their internal net asset value. The approach required satisfactory resolution of key residual residual construction and commercial issues with the original contractors, to ensure the assets were in good condition prior to commencement of the divestment process.

Team involved / roles:

Tony Cahill:   Led the divestment process, which required coordination and management of legal, technical and financial specialists to develop a fully comprehensive suite of due diligence material to be shared with purchasers. There were several complex technical matters that required resolution prior to divestment, which Tony oversaw to satisfactory conclusion to enable a successful divestment outcome.

Bromsgrove Station Relocation, Worcestershire, England

Milestone: New relocated railway station enters operational passenger service

Key details: Development and delivery of a new four platform railway station with staffed ticket office and 350 space car park to replace the previous station, on a brownfield site that allowed longer 6 car platforms to be built and improved access and capacity. The project was jointly promoted by Worcestershire County Council and Centro (now part of West Midlands Combined Authority) with specialist advice provided by SLC to create a commercial structure that supported sourcing of public finance to meet £24m capital cost of the project. This was achieved through an innovative transport authority led design, build, finance, operate and maintain (DBFOM) structure that allowed the authorities to recover borrowing costs over a 25 year long-term lease. Furthermore, WMCA are the Station Facility Owner, with responsibility for station operations.

Team involved / roles: 

Ian Walters:  In his role as specialist rail advisor to WMCA, he created the contractual and financial structure to support the local transport authorities source public loans to meet the project capital cost, leading to successful procurement and delivery of the project.

Mike Haigh:  In his role as specialist rail advisor to WMCA, he supported the commercial negotiation process between the local transport authority promoters and rail industry stakeholders to achieve agreeable commercial terms, that supported achieving financial close.

Coventry to Nuneaton Rail Upgrade (NUCKLE Phase 1), Warwickshire, England

Milestone: Infrastructure upgrade and delivery of two new railway stations into operational service

Key details: This project forms the first phase of a larger scheme, known as NUCKLE (Nuneaton, Coventry, Kenilworth, Leamington Spa), to upgrade rail services to support the economy of the Leamington Spa to Nuneaton corridor. The Phase 1 scope included the upgrade of the existing predominantly freight rail line to facilitate regular rail passenger services calling at two new stations Coventry Arena and Bermuda Park). This required track renewals, signaling upgrades and station works. SLC provided specialist rail advice to the transport promoter Coventry City Council and its partners to successfully secure grant funding from the DfT and the European Regional Development Fund that enabled delivery of the £13m project.

Team involved / roles: 

Ian Walters:  In his role as specialist rail advisor to Coventry City Council he re-shaped the financial business case to fit emerging funding bid guidance, supported the subsequent Major Scheme bid, and led all financial matters, procurement of delivery contract and station operations.

'New Generation Rollingstock', Queensland, Australia

Milestone: New rolling stock and maintenance facility project reaches financial close.

Key details: The ‘New Generation Rollingstock’ project was commissioned by the Queensland Department of Transport and Main Roads (TMR) and incorporated the design, build, finance, maintenance and operation of a fleet of 75 new electric passenger trains. The project value was £2bn making it one of the largest public transport investments undertaken in Queensland. It required the design and construction of a new purpose-built maintenance facility in Wulkuraka Queensland.

Team involved / roles:

Tony Cahill   Took the technical lead during the development stage of the project with the objective of obtaining  lender endorsement of the technical   and commercial structure and risk profile of the project to successfully reach financial close of the project. This work required significant coordination and due diligence with Bombardier’s local design team in Brisbane, and manufacturing team in Savli, India to ensure processes were aligned and capable of delivering new trains to TMR’s requirements.

Purple Line Light Rail, Maryland, USA

Milestone: New light rail line and rolling stock project.

Key details: The project scope includes delivery of a new 16-mile light rail line on the outskirts of Washington D.C. (£1.2b capex) including rail corridor, maintenance buildings and rolling stock. John Laing partnered with national and local contractors in the US and was successfully shortlisted in 2014 and subsequently submitted a final proposal in 2015 to design, build, finance and operate the new light rail project.

Team involved / roles:

Tony Cahill:  Project bid director and successfully managed the submission of the initial bid to achieve shortlisting in 2014, and subsequently went on to lead technical and commercial work stream during which a fully endorsed financial package was agreed with senior lenders.

David Rushton: Project sponsor and represented John Laing as the lead equity investor in the team consortium.

Intercity Express Programme – Phase 2 (ECML), UK

Milestone: New rolling stock and maintenance facility project reaches financial close

Key details: The second phase of the IEP project involved the delivery of new intercity trains for the East Coast Main Line (ECML). This involved the design, build, finance, operation and maintenance of a mixture of 65 bi-mode and electric trains, and the construction of a new maintenance facility in Doncaster.

Team involved / roles:

Andy Pearson: Upon achieving financial close he was appointed as a company director on the Agility Trains East project board providing oversight on behalf of John Laing as a shareholder. Andy provided continuity as a director on both Agility Trains West and East project boards, ensuring efficiencies  learned on Phase 1, were carried forward and implemented by the management team in Phase 2.

Alex Yew: Building on the work undertaken for Phase 1, he led the financing workstream for Phase 2 and was responsible for developing a financial structure that once again delivered competitive terms with senior lenders.

Tony Cahill: He once again took the technical lead during the development stage of the Phase 2 project to obtain  lender endorsement of the technical and commercial structure and risk profile of the project to successfully reach financial close of the project.

Intercity Express Programme – Phase 1 (GWML), UK

Milestone: New rolling stock and maintenance facility reaches financial close.

Key details: The Intercity Express Programme was a Department for Transport promoted PPP project to procure 2 new fleets of trains to replace the existing high speed trains on both the Great Western and East Coast intercity routes. It is one of the largest privately financed rolling stock projects in the world and one of the largest, most ambitious, and complex transportation projects to date. The project was separated into two phases, with the West Coast Main Line (WCML) Phase 1 project achieving financial close in 2012. This Phase involved the design, build, finance, operation and maintenance of a mixture of 57 bi-mode and electric trains, and the construction of a new maintenance facility in Bristol Stoke Gifford.

Intercity Express Programme – Phase 1 (GWML), UK

Team involved / roles:

Andy Pearson: Led John Laing’s investment in the project company (Agility Trains). He was involved in the development of the bid to achieve successful contract award by the DfT, and subsequently upon achieving financial close he was appointed as a director on the Agility Trains West project board providing oversight on behalf of John Laing as a shareholder.

Alex Yew: Led the financing workstream and was responsible for developing a financial structure that delivered competitive terms with senior lenders. The project was funded in a difficult period for the financial markets sector, and he was instrumental in reassuring lenders that were new to the UK market and the PPP model to invest in the project.

Tony Cahill: Took the technical lead during the development stage of the project with the objective of obtaining lender endorsement of the technical and commercial structure and risk profile of the project to successfully reach financial close of the project.

Denver Eagle, Colorado, USA

Milestone: New commuter rail lines, with rolling stock reaching financial close.

Key details: This was a c. £1 design, build, finance, operation, and maintenance project for two new commuter rail lines and a portion of a third in the Denver metropolitan area under an availability-based concession contract. The East Corridor runs 23 miles from Denver International Airport to Denver Union Station, and the West Corridor spans runs for 11 miles from Denver Union Station to the city suburbs. The project incorporated procurement of a new fleet of vehicles to operate on the new lines and the creation of a new maintenance facility for servicing, maintenance and repair of the vehicles.

Team involved / roles:

Alex Yew: Led the due diligence for the financing workstream for John Laing’s acquisition of the project. He supported bringing the project to financial close and was actively involved in the marketing process for securing bond finance, and completion of the financing arrangements.

David Rushton: As Project Company Director for over 6 years and was elected Chairman of the Board of Directors. He was involved extensively during the project implementation and delivery phases providing oversight and guidance to the management team.

Southend Airport Station, Essex, England

Milestone: New railway station proposal achieves rail industry outline approval.

Key details: A proposed new two platform railway station with staffed station building to support the expansion of Southend Airport for providing a step change in passenger carrier services as part of a wider programme of works including a new terminal building and runway extension. Originally promoted by a private owner, then subsequently Stobart Rail as a scheme that would be privately financed though enhanced passenger farebox revenues. John Laing developed the scheme to the point of being ready to achieve Financial Close, with a rail industry approved outline design and contractual structure. The project was subsequently brought forward by Stobart Rail as developer, investor ad private owner.

Team involved / roles:

Ian Walters: As Rail Investment Director at John Laing, he developed the contractual and financial structure and the developer partnership arrangement between John Laing and the private airport owner, prior to transition to Stobart Rail.

Tony Cahill: As Project Manager at John Laing, he managed the design development process leading to obtaining approval from rail industry stakeholders including Network Rail and Greater Anglia, setting the project up for procurement of a Design & Build contractor to deliver the project.

Aylesbury Vale Parkway, Buckinghamshire, England

Milestone: New railway station enters operational passenger service.

Key details: Development and delivery of a new station to support modal shift from private car to rail alleviating local highway congestion, and to provide a sustainable rail transport option for residents of a new housing development adjacent to the site. The project scope included enhancement of existing rail infrastructure to facilitate extension of Chiltern Railways passenger services from Aylesbury Station and a new terminus parkway station incorporated a single platform, staffed station building, bus interchange and at grade car park. The project was jointly promoted by John Laing and Buckinghamshire County Council, with responsibility for development, delivery and ongoing asset management retained by John Laing.

John Laing retained ownership of the station and used the enhanced farebox revenue to support privately financing the project.

Team involved / roles:

Ian Walters: As Rail Investment Director at John Laing, he developed the contractual, financial and investment partnership arrangement between John Laing and Buckinghamshire County Council.

Reading Green Park Station, Reading, England

Milestone: New railway station proposal prepared for private investment.

Key details: A proposed two platform unstaffed railway station to support new housing development and connectivity to nearby existing business park. Originally promoted by Prudential Property Investment Managers (PRUPIM) as a scheme that would be privately financed though enhanced passenger farebox revenues.

John Laing developed the scheme to the point of being ready to achieve Financial Close, with internal investment committee approval to finance the new railway station. The project was halted upon PRUPIM sale of GreenPark to a third party.

Team involved / roles:

Tony Cahill: As Project Manager at John Laing, he managed the design development process leading to obtaining approval from Network Rail and planning consent from the district planning authority. He also managed the procurement process to identify a preferred design & build contractor with an agreed fixed price and commercial terms.

Ian Walters: As Rail Investment Director at John Laing, he developed the contractual and financial structure and the investment partnership arrangement b between John Laing and PRUPIM, which got to the point in readiness for Financial Close.

Evergreen Phase 2, England

Milestone: Railway infrastructure enhancement complete.

Key details: Project Evergreen Phase 2 was the second stage of the mainline enhancement and structured as an innovative Design Build Finance Transfer (DBFT) model that was coordinated in parallel with an extension of the Chiltern Railways franchise. The Phase 2 project construction cost of £70m was financed through enhanced farebox revenue generated by the improved passenger services delivered on the Chiltern Railways route over a 20-year franchise length. The project involved further complex route enhancements to the existing railway line, including the development of 2 new station platforms at the landmark Marylebone Station in London, while keeping the station fully operational.

Team involved / roles:

Andy Pearson: Senior Project Manager for Chiltern Railways, he led the development of the unique Design, Build, Finance and Transfer (DBFT) project and took the scheme through outline design approval and procurement of a preferred contractor.

Coleshill Parkway, Warwickshire, England

Milestone: New railway station enters operational service

Key details: A new station with two platforms, a staffed station building, bus interchange and car park situated between Birmingham and Nuneaton. The project was jointly promoted by John Laing and Warwickshire County Council, with responsibility for development, delivery and ongoing asset management retained by John Laing. A new highway bridge spanning the railway was constructed as part of the project, that upon completion was handed to Warwickshire County Council to own and maintain going forward.

John Laing retained ownership of the station and used the enhanced farebox revenue to support repayment of its capital investment in the project.

Coleshill Parkway, Warwickshire, England

Teams involved / roles:

Ian Walters: As Rail Investment Director at John Laing, he developed the contractual, financial and investment partnership arrangement between John Laing and Warwickshire County Council.

Mike Haigh: As Business Development Director for Central Trains, he led the negotiation and agreement of the Station Facility Owner responsibilities with John Laing for the ongoing operation and maintenance of the station.

Tony Cahill: As Project Manager for John Laing, he managed the principal design and construction contractor and contractual and operational interfaces with rail industry stakeholders including Network Rail, ORR and train operators. In the operational stage, Tony was a Company Director, overseeing performance of the station asset on behalf of John Laing as sole investor.

Evergreen Phase 1, England

Milestone: Rail infrastructure enhancement project complete.

Key details: Project Evergreen Phase 1 was a Design Build Transfer (DBT) model that involved Chiltern Railways taking responsibility to develop and deliver a major enhancement project on its route. The Phase 1 project construction cost of £66m was funded by the government with the business case developed by Chiltern Railways demonstrating strong value for money. The project involved enhancement of a 28-mile section of the existing Chiltern Railways mainline route to improve passenger service reliability, journey times, and capacity.

Team involved / roles:

Ian Walters:  As Finance Director at Chiltern Railways, developed the business case and funding strategy to secure government investment in the project.

Andy Pearson: Seconded to Chiltern Railways from John Laing to lead the development of Project Evergreen that would form a key component of a successful bid for the franchise. He was responsible for leading negotiations with Network Rail, contractors and the Strategic Rail Authority on the contractual arrangements for Project Evergreen.

Warwick Parkway, Warwickshire, England

Milestone: New railway station enters into operational passenger service.

Key details: Construction of a new two platform staffed railway station with substantial park and ride facility with over 700 spaces. The project was jointly promoted and developed by Chiltern Railways and Warwickshire County Council. Chiltern Railways used the enhanced farebox revenue to support financing the new station, and they took full passenger demand and revenue risk.

Team involved / roles:

Ian Walters: In his role as Finance Director for Chiltern Railways, Ian developed the financial case and commercial structure to support internal approval for Chiltern Railways to finance the new railway station project, with repayment achieved over the franchise concession term.

Andy Pearson: In his role as Senior Project Manager for Chiltern Railways, Andy was responsible for managing the construction contract and overseeing successful delivery of the project, which was achieved on time and within budget.

City Greenwich Lewisham (CGL), London, England

Milestone: New light rail infrastructure enters into operational service.

Key details: A 25 year concession contract for the design, build, finance and operation of a 4.2km extension of the Dockland Light Railway, from the Isle of Dogs to Lewisham. A complex project that incorporated delivery of a new transport link in south east London, with four overground stations and 1.7km of tunnels under the River Thames and two new underground stations.