UPDATE: Russian Railways to boost investment to 8-10 tln rbl till 2025

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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.

“Our investment program is smaller than Gazprom’s, but we will try to catch up,” he said.

Belozyorov also said that a program to expand the Baikal–Amur Mainline (BAM) and the Trans–Siberian 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 railroads’ 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 – U.S. $1)

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