Russian Railways cargo loading up by 13% y/y in H1.

By bne IntelliNews July 8, 2010
Russian Railways (RZD) increased cargo loading by 13.2% y/y in Jan-June 2010 to 653mn tones. Out of that, domestic cargo turnover went up by 12.8% y/y to 398.8mn tons, while international cargo turnover went up by 13.9% y/y to 254mn tons. To remind, in 2009 RZD's cargo turnover went up by 15.1% y/y to 1.2bn tons. As reported this week, revenues from cargo transportation accounting for about 80% of RZD earnings is expected at about RUB 900bn in 2010 and 2011. State support for RZD is going to amount to RUB 50bn in 2010, the same as in 2009. However, as recently announced by the head of the state rail monopoly Vladimir Yakunin, RZD might need another RUB 400bn in state support for the period of 2010-2015. The funds would be necessary for realizing the investment program for the coming 6 years. Investment program of RZD for 2010 stands at RUB 270.5bn, main priorities being development and renewal of infrastructure on main transit and export-oriented directions. Russian Railways is 100% owned by the government.
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