Transport for Wales (TfW) invested more than £150m on rail services and infrastructure in its last financial year.
The transport body, which operates at arm's length from the Welsh Government, said the majority was invested in now devolved Wales and Borders rail services.
It also included infrastructure upgrades as part of its £738m commitment to the South Wales Metro through electrification of the Core Valleys and the Coryton Line through Cardiff.
The investment during the year to the end of March, 2019, by TfW consisted of:
£30m in rail infrastructure development.
£88m in operational expenditure (not capital).
£33m spending on other projects and service operations.
For the next phase of the South Wales Metro to be delivered, the Welsh Government needs the rail assets of the Core Valley and Coyton Lines to be devolved from the 海角视频 Government.
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The Welsh Government, despite the Whitehall civil service machine being pre-occupied with Brexit issues, hopes this can be finalised soon.
Work to date, ahead of major engineering work, includes action to eradicate Japanese Knotweed on the Core Valley Lines.
The Welsh Government, in its long-term rail strategy published last week, is calling for the entire rail network in Wales to be devolved.
Electrification of the Valley Lines, although elements will not have live overhead electric wires with on order new tram-trains and trimodes (which can switch between battery, electric and diesel modes) operating in battery mode under some bridges and tunnels, is on track be completed by 2023.
Once realised it will deliver a significant increase in rail service frequency across the network and reduced journey times than presently.
The project will be delivered by KeolisAmey, which last year secured the new 15-year Wales and Borders franchise.
Devolved rail services in Wales are being run in a joint approach between the contractor in TfW and the operator (KeolisAmey) under the Transport for Wales Rail Services banner.
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While TfW is not-for-profit, KeolisAmey will generate a profit for operating the franchise - although based on agreed performance measures - of around 3% per annum, which is more than £10m a year.
This is less than the previous franchise holder Arriva under a deal struck with the 海角视频 Government's Department for Transport
TfW is confident that electrification can be delivered within or to the £738m funding ringfenced for the project, which includes £130m in European money, backing from the £1.3bn City Deal for the Cardiff Capital Region and Welsh Government funding.
The £162m in EU support, subject to project delivery milestones, is from the European Regional Development Fund.
During its last financial year Cardiff-based TfW, which is committed to moving to a new HQ in Pontypridd, paid seven directors salaries ranging from £95,000 to £160,000.
The highest paid director during the year was its chief executive James Price, on a salary band of £155,000 to £160,000.
While far higher than First Minister Mark Drakeford, his salary is well within 海角视频 rail executive pay rates.
Mr Price was originally seconded when the body was set up in 2017, after a period in shadow, from the second most senior role in the Welsh Government civil service. The role has yet to be advertised.
The organisation, which at the end of March, 2019, employed just over 60, had a median average pay of £51,400.
The median average gender pay gap, based on a hourly pay rate, was 18.6%, higher than the 海角视频 gap of 17.9%. The female average median hourly pay was £22.56p and for men £27.73p.
In its report TfW said: "We continue to develop initiatives to encourage more women to join both TfW and the currently male-dominated transport industry.
"We’ll work to reduce the historic gender pay gap in the transport industry. As part of our talent resourcing strategy we’re building links with schools, colleges and universities to share the opportunities we have to offer."
Mr Price said; “TfW is an open and transparent organisation with a collaborative approach and I hope that our annual report and financial statements demonstrates the progress we’re making to create an integrated transport network in Wales.
“2018/19 was a busy year of transformation and growth for TfW. Looking forward, the scale of what we now have to deliver is unprecedented, but the team at TfW is focused on making a difference for the people, communities and businesses of Wales.”
TfW’s chair, Scott Waddington, the former chief executive of brewing and hospitality firm SA Brain & Co, said: “2018/19 was a pivotal year for TfW as we took over the Wales and Borders rail service and I would like to thank our many stakeholders for their ongoing insight, help and support.
“We have now put the right foundations in place and while our strategy is ambitious, I am confident that we are prepared for the challenges we face as we enter a key delivery phase of our journey.”
Welcoming the publication of TfW’s first annual report and financial statements, Economy and Transport Minister, Ken Skates said “An effective transport network is a key building block of an economy that works for all and we’re on a journey that will greatly improve our rail services.
Our customers’ needs are at the heart of this transformation and I’m pleased that they’re already starting to see the benefits.”