A total of £2billion is set to be spent on railway infrastructure in Wales over the next five years, rail bosses say.

Network Rail in Wales and Borders is set to benefit from a UK Government grant to provide a safer and more reliable railway for passengers and freight customers.

It is the first time that the Wales and Borders funding plan has been developed by and for Network Rail Wales and Borders and represents a 28 per cent increase on the figure for the last five-year funding period (2014-2019).

Bill Kelly, route managing director for Network Rail Wales and Borders, said: "This is fantastic news for Wales and Borders at a time when we are seeing unprecedented levels of investment in the railway. We’ve put passengers and our freight customers first in developing our five-year plan, which will make the railway safer and more reliable for the thousands of customers who use it every day.

"This record funding, together with the significant investment planned by our partners Transport for Wales, represents a truly once-in-a-generation opportunity to transform rail services for the people of Wales and Borders.”

The government say the funding will support Transport for Wales’ significant investment of £5bn over 15 years, which they say will see passengers benefitting from new trains, improved stations and increased capacity across the network.

James Price, chief executive officer, Transport for Wales, said: "We want the new rail service to lead to a significant improvement in people’s views and experiences of public transport in Wales and working closely with our partners is key to achieving this.

"We look forward to working with Network Rail to deliver the best possible service for customers, including importantly through increasing capacity and reliability."

The Wales and Borders route budget is set out in the Office of Rail and Road's (ORR) final determination.

Maintenance and renewal work to be carried out by Network Rail across the Wales and Borders rail network in the next five years includes the renewing or refurbishing of 398km of track and the renewing of the iconic Grade II listed Barmouth viaduct.