Russian Railways ups investment program for 2011.

By bne IntelliNews July 7, 2010
State rail monopoly Russian Railways (RZD) is going to increase its investment program for 2011 from RUB 285bn to RUB 315bn (USD 10.12bn), company's VP Vadim Morozov announced. He added that revenues from cargo transportation accounting for about 80% of RZD earnings is expected at about RUB 900bn in 2010 and 2011, as well as that the company managed to evade loss in H1/10, without providing further details. As reported, 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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