A groundbreaking ceremony has been held for Stadler’s new rolling stock assembly facility in Salt Lake City, Utah, the United States.
Under the deal the company will be rebranded 'Virgin Hyperloop One' and Branson will join the board of directors.
The total is made up of a Network Grant of £34.7 billion, plus Network Rail’s own income from other sources of £13.2 billion.
High demand for passenger rail service continues to outpace investment, according to Amtrak, which has resulted in a backlog of $38 billion of deferred capital investments.
Argentina's ministry for transport has launched an international tender for a fleet of 1,500 vehicles - the largest acquisition of rolling stock in the history of the Buenos Aires commuter network.
A new rail corridor linking Azerbaijan to Turkey via Georgia is set to launch in September, establishing a new freight link between Europe and China.