History
In October 1996 the Valley Lines franchise commenced operating services around Cardiff and the South Wales Valleys. In March 2000 the Strategic Rail Authority decided to reorganise the Valley Lines and Wales & West franchises, both being operated by National Express.
Valley Lines became Wales & Borders from October 2001 combining its services with most of Wales & West's Welsh services and the Cambrian Line services from Central Trains. In September 2003 Wales & Borders took over the North Wales Coast Line services from First North Western.
Read more about this topic: Wales And Borders
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