Russian Gov’t set to boost investments in RZD

The Russian government will increase investment in the state-owned rail monopoly Russian Railways (RZD) up to RUB 360 billion a year, RBC reports.

Following the Russian Government’s meeting held on Nov. 8th, the Ministry of Transportation, the Ministry of Economic Development, the Ministry of Finance, the FTS were tasked to finalize in conjunction with JSC Russian Railways the parameters of the financial plan and investment program of RZD (2014-2015) increasing funding of the rail infrastructure overhaul to 360 billion rubles annually.

Currently, the total amount of the RZD’s investment program intended for the 2013-2015 period is about RUB 1.1 trillion. The government has allocated in the federal budget RUB 411 billion for the RZD projects in 2013, RUB 360bn in 2014, and RUB 346bn in 2015.