Network Rail has published a route study which sets out options for upgrading the railway network in Wales and the borders.
Major projects, including a redevelopment of Cardiff Central station, the modernisation of the North Wales Coast Main Line and upgrading the Valley Lines, have all been included.
With rail journeys forecast to rise from 13 million to 33 million by 2043, a decision will now been made as to which projects will be funded during the next financial period (2019-2024).
Tim James, head of strategy and planning for Network Rail Wales, said: “The railway is a great Welsh success story. Passenger journeys have increased by almost 50 per cent over the last decade and continue to grow, the rail freight industry is developing new markets and adapting to economic change and new lines and stations have opened for the first time in generations.
“This is an exciting time for the railway, with improvements being delivered across the network, but additional investment is required to meet future passenger and freight demand.”
Wales may need new trains to replace the Pacer trains and also electrification for Cardiff and the suburban lines across South Wales with the GWML to be electrified to Swansea, Cardiff and Bristol with new Class 800, Class 801 and Class 802 IEP trains to replace the Class 43 MK3 HST’s.