Russian Railways needs RUB 400bn in 6 years for investment program.

By bne IntelliNews March 1, 2010
As announced by the head of the state rail monopoly Russian Railways (RZD) Vladimir Yakunin, RZD might need another RUB 400bn (USD 13.32bn) 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. To remind, state support for RZD is going to amount to RUB 50bn in 2010, the same as in 2009. In H1/09 company suffered a net loss of RUB 13.7bn vs. RAS net profit of RUB 27.3bn in H1/08. In Jan-Sep RZD revenues went down by 7.2% to RUB 778bn. RAS net profit of RZD in 2008 amounted to RUB 13.4bn vs. net profit of RUB 84.5bn in 2007. Russian Railways is 100% owned by the government.
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