In a written statement to the House of Commons, Mr Byers is expected to give details of the not-for-profits body to be established to take over the rail network.
Earlier, Mr Byers told the Commons that the government would still "welcome" any approaches from private companies for Railtrack.
The government would be publishing guidelines this week for companies wishing to prepare a bid, Mr Byers added.
The government had already received one approach from a private company for Railtrack, Mr Byers said.
Earlier this month press reports suggested German bank WestLB had expressed an interest in taking over the network.
Eliminating anxiety
Railtrack chief executive Steve Marshall has written to Mr Byers to ask him to clarify the position to eliminate the anxiety which threatened to "put progress on the railway back by one if not two years".
Mr Marshall has also pressed the transport secretary to reveal what additional public funding would be available to Railtrack or its successor "to provide the cash investment that the railway desperately needs and the public requires".
It goes on to urge Mr Byers to consider a cash bid by a third party for the company, which is now in administration.
Workers' future
Questions over the future position of Railtrack workers were also raised.
"What assurance can you provide the railway's workforce that every effort will be made, in any forthcoming restructuring, to retain the expertise and experience of the railway men and women that have a unique responsibility for the safe running of the network?"
Mr Byers faced opposition questioning in the Commons on Tuesday afternoon, where he will give more details of the body which will replace Railtrack.
Conservative shadow transport secretary Theresa May faced Mr Byers for the first time at the despatch box and maintained pressure on him to stand down over his handling of the Railtrack affair.
She accused Mr Byers of getting his sums wrong over the Railtrack affair, saying the cost of setting up a replacement for the stricken company would be more than the cost of keeping it afloat.
Ms May said: "The real story is that rail improvements will be delayed and the cost of funding investment will go up."
The Conservative party recently tried to force Mr Byers' resignation, claiming the government's 10-year rail plan would be compromised by the Railtrack setback.
Shareholders' interests
Last week Mr Byers made it clear that Railtrack's replacement would be a private company limited by guarantee, without shareholders, and re-investing any profits into the network.
But shareholders have launched an action group to protect their interests, and are threatening to sue.
Mr Marshall's letter criticises the government's lukewarm response to a takeover approach by West LB.
It also asks Mr Byers to confirm reports that shareholders may be entitled to receive government-secured and interest-bearing bonds, in addition to any cash distribution that may come from the sale of group assets.