UPDATE: Russian Railways to boost investment to 8-10 tln rbl till 2025
(Adds last paragraph)
ST. PETERSBURG, Mar 2 (PRIME) -- National railroad operator Russian Railways plans to increase its investment program until 2025 to 8-10 trillion rubles, CEO Oleg Belozyorov said on Friday.
УOur investment program is smaller than GazpromТs, but we will try to catch up,Ф he said.
Belozyorov also said that a program to expand the BaikalЦAmur Mainline (BAM) and the TransЦSiberian Railway (Transsib) will require 600 billion rubles to 1 trillion rubles of investment.
On Thursday, President Vladimir Putin said in his address to the Federal Assembly that the two railroadsТ capacity must rise by over 50% to 180 million tonnes until 2024.
The CEO also said that Russian Railways received a 17 billion ruble of profit in 2017. The company plans to release financial results for 2017 soon.
(56.4334 rubles Ц U.S. $1)