PRESS: Government to inject 250 bln rbl into Russian Railways

MOSCOW, Mar 10 (PRIME) -- The government plans to inject 250 billion rubles into the capital of state railway monopoly Russian Railways as a support measure in the condition of sanctions, Vedomosti business daily reported on Thursday quoting a corresponding document.

“The sum under discussion is a quarter of the company’s annual investment program. It was planned at 1 trillion rubles in 2022. The deficit was estimated at around 270 billion rubles in September 2021,” the daily reported.

The capital injection is one of the measures for the transport industry’s support drafted by the Transport Ministry and the Finance Ministry.

In 2022–2024, the company plans to invest a total of 1 trillion rubles in repairs. Spending on repairs and upgrades of the railway, power transmission and telemetry facilities is planned at 723.3 billion rubles more.

A source told Vedomosti that the government is discussing another support measure for Russian Railways: a gradual increase in railroad tariffs in line with inflation, which may be implemented until June 1.

The Transport Ministry and Russian Railways declined to comment.

(116.0847 rubles – U.S. $1)

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