Network Rail Ltd (NRL) carries out the construction of railway infrastructure. It develops, owns, and maintains rail tracks, level crossings and other railway infrastructure in states including Wales, Scotland and England in the UK. The company also owns and maintains other railway infrastructure such as signals, tunnels, bridges, viaducts, level crossings and stations. The company also leases small offices, warehouses, light industrial units, and railway arches to small- and medium-sized enterprises; retail space at stations; and various residential properties.

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NRL invests in new technology to develop energy-efficient products. The company owns and operates two Rail Innovation and Development Centers (RIDS) in Melton Mowbray in Leicestershire, and Tuxford in Nottinghamshire. It carries out the testing of new and modified rolling stock, plant, on-track machines, infrastructure, equipment and technology. The company, at its RIDC site at Melton, Leicestershire, conducts testing of high and low speed vehicles and infrastructure using 11 miles of 25kV overhead line equipment and 3rd/4th rail DC equipment. Its RIDS in Tuxford, Nottinghamshire, provides 10 miles of single-line test track with a three-mile double section, which is capable of testing up to 75mph. In FY2023, the company invested GBP20 million on R&D activities.