PRESS: Russian Railways to cut 2019 investments by 57 bln rbl

MOSCOW, Oct 1 (PRIME) -- Russian Railways plans to cut its investment program by 57 billion rubles in 2019, CEO Oleg Belozyorov said in an interview with Kommersant business daily released on Tuesday.

Initially, the company’s investment program for 2019 was planned at around 681.9 billion rubles. First Deputy CEO Anatoly Kranoshchek said in July that the company’s investment program for 2019 was raised to a record high sum of 747.5 billion rubles.

“The figures are slightly different than was announced. The investment program is expected to be reduced by 57 billion rubles. At the same time, part of the funds is reduced during the implementation of the project. The planning principle is always the same: we put in a certain figure for the analogous objects. Then we design, and in the process of construction we get the final figure,” Belozyorov said.

He also said that Russian Railways will not initiate changes in tariffs for cargo transportation for 2020.

(64.6407 rubles – U.S. $1)

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