TRANSPORT Secretary Patrick McLoughlin has issued a rallying call to Derbyshire's rail companies to "rise to the challenge" of delivering the Government's multi-billion pound spending plans.
Over the 175 years since the railways first came to Derby, the industry has endured its fair share of challenges.
In 2014, that still remains the case as the UK rail network tries to keep pace with growing passenger numbers.
Over the next five years, known in the industry as Control Period 5, or CP5, Network Rail will oversee £38 billion of improvements in our railways.
Much of the expertise that can deliver these improvements is based in Derby, home to the largest cluster of rail companies in the world.
Yesterday, representatives from many of those firms were present at the Derby and Derbyshire Rail Forum's annual conference, The Challenge Of CP5 – Building Tomorrow's Railway, which was held at Derbyshire County Cricket Club.
Depending on which way you think, bringing the nation's railways up to modern standards is a massive challenge. But there are those who would replace the word "challenge" with "opportunity".
It was a word that cropped up in much of the rhetoric of the speakers at yesterday's conference – not least, Transport Secretary Patrick McLoughlin.
As reported in the Derby Telegraph last week, Network Rail is set to spend billions of pounds over the next five years to upgrade and electrify the nation's railways, including £1.6 billion which will be spent in the East Midlands.
Combined with Government plans to invest billions more in rolling stock and the potential arrival of HS2, Mr McLoughlin told delegates that Derby had a key role to play.
He said: "With Network Rail spending £38 billion over the next five years, there are huge opportunities for Derby's rail companies.
"Electrification is not the only good news for Derby. Earlier this year, I was delighted to announce the awarding of the Crossrail contract to Bombardier.
"Overall, the prospects for this industry are looking up.
"One of the things I've learned as Transport Secretary is that, in the rail industry, you need to think big and we need to grasp the opportunities while they are available.
"I want to see rail companies in Derby rise to the challenge for the prosperity of Derby, Derbyshire and the British rail industry."
The conference had added significance as this year Derby has been celebrating 175 years since the railways came to the city.
Also among the guest speakers was Clare Moriarty, director of the newly-formed Rail Executive at the Department for Transport.
She said: "We are entering a period of historic opportunity for rail and there is no better place to say it than in Derby, the heart of the industry's supply chain.
"I hope the next 175 years of rail in Derby will be just as productive as the last 175."
One rail project that continues to divide opinion is HS2.
The consensus yesterday, unsurprisingly, was that HS2 is needed in order to address the nation's rail capacity problem.
The scheme could also give the country a massive skills boost, with the creation of the HS2 College.
The Government recently began a search to find a place where the college should be sited – and Derby has thrown its hat into the ring.
Colin Walton, rail forum chairman and former boss of Derby train-maker Bombardier, said: "Rail is now seen as a good place to put your money.
"As the city celebrates its 175-year association with rail, we are in a period where massive amounts are being spent.
"We must not miss these opportunities.
"And it's not all about the big companies – it's about the many small and medium-sized businesses who could benefit. The rail forum will be supporting these companies and helping them to win work.
"My aim is to turn more of these companies into exporters and show not just the UK but the world that they are the best."
