UPDATE: Transneft to raise investments 13% to 386 bln rbl in 2017

(Adds details in last paragraph)

MOSCOW, Feb 14 (PRIME) -- Russian oil pipeline monopoly Transneft plans to raise investment by 13% to 385.6 billion rubles in 2017, the company said in a report on Tuesday.

The company will spend 143.3 billion rubles on new facilities, 196 billion rubles on technical upgrades and capital repairs, 41.5 billion rubles on the purchase of fixed assets, and 4 billion rubles on long-term financial investments.

Transneft expects its revenue from oil transportation to grow 10.22% to 632.26 billion rubles in 2017. Cost of services is projected to increase 13.6% to 467.48 billion rubles. Oil pumping is expected at 482.315 million tonnes in 2017.

(58.0619 rubles – U.S. $1)

End