on track to revive Penrith to
ALTHOUGH campaigners for the revival of the Penrith to Keswick railway have suffered a funding setback, they have vowed to continue their fight.
CKP Railways submitted an application for the second round of the Regional Growth Fund which closed last July, but the bid was unsuccessful.
A spokesman for CKP Railways said it had been reported that only a quarter of all bids succeeded. Nationally, transport overall fared a little better, although Cumbria received relatively little.
The latest newsletter for rail campaigners states that other potentialfunding sources are still being followed up.
These range from development funds to commercial and public sector opportunities.
Unlike many businesses which have applied for funding, the railway project is not raising any income and would not for several years that makes it unattractive for most venture capital-type schemes as an immediate return is required.
The company says the railway will be an investment in the long-term future of the whole region and CKP Railways continues to patiently promote and explain the aims and needs of the project to all potential funders.
Almost half a million pounds has been spent on development work to date and estimated costs of completing and opening the line range from under £50 million for a single track route to approximately £100 million for a system with double-tracked sections and full signalling for more intensive operation.