The ownership and management of the railways in Wales are split between the infrastructure and the operation of the trains. The physical infrastructure—including the tracks, signals, and most stations—is owned and managed by Network Rail, which is a public-sector arm of the UK Department for Transport. However, the actual train services are operated by Transport for Wales (TfW) (Trafnidiaeth Cymru), which is a company wholly owned by the Welsh Government. This is a significant distinction because, unlike most rail operators in England which are private franchises, the Welsh Government moved to a "publicly owned" model in 2021 to ensure better integration and accountability for the people of Wales. Additionally, the Welsh Government recently took direct control of the "Core Valley Lines" around Cardiff from Network Rail to facilitate the massive South Wales Metro project. So, while the UK government still has a hand in the national infrastructure, the Welsh Government effectively "owns" the passenger experience and the future development of the rail network within its borders.