Transport for Wales (TfW) has printed its annual report and monetary statements for the yr to 31 March 2022.
Figures launched right this moment present whole grant-funded expenditure of £697 million made up of:
- £346 million of income funding for provision of rail passenger providers. This included £288 million for the supply of rail providers.
- £351 million capital funding together with £108 million for provision of rail passenger providers, together with new rolling inventory and depot and station enhancements and £167 million for the design and construct works to remodel the Core Valley Strains (CVL) rail property (web of £8 million ERDF funding)
As a not-for-profit organisation, TfW are persevering with to put money into the transformation of public transport in Wales with a deal with making a joined-up community the place built-in ticketing and dependable providers make it the best possibility for folks travelling throughout Wales.
Chair of TfW Scott Waddington mentioned:
“2021/22 was one other yr of serious change for Transport for Wales because the coronavirus pandemic continued to check our resilience and problem our pondering. Nevertheless, we’ve continued to work in shut collaboration with our stakeholders to ship on our shared dedication of remodeling the transport community in Wales.
“Our purpose is to make transport in Wales actually sustainable and match for future generations. We have now bold plans that we’ve progressed on this yr and can proceed to take action shifting ahead.”
James Worth, Chief Govt of TfW mentioned:
“We’re making a sustainable community which is able to assist the folks of Wales reply to local weather change whereas constructing an organisation that’s match for the long run. Some journey patterns are already altering however Wales must see long-lasting, sustainable modal shift. This requires continued funding within the progress of our public transport provision with low-carbon providers and infrastructure that helps to enhance the social, financial, environmental and cultural well-being of Wales.
“Our achievements this yr with the continued growth of the CVL, integration of TrawsCymru, acquisition of PTI Cymru, funding in a multi-modal ticketing system and introduction of fflecsi are all massive steps ahead in reaching this aim. We additionally administered £49 million Energetic Journey grants to native authorities, an more and more essential a part of getting extra folks strolling and biking.
“We’re making travelling simpler, reworking our transport community with a high-quality and dependable service. Our prospects are on the coronary heart of all that we do and I thank my colleagues for all that they’ve finished to date.”