State-controlled Russian Railways expects its investments in 2008-2010 to amount to about 1.3 trillion rubles, Alexander Misharin, Russia's deputy transport minister, told reporters Wednesday according to Prime-Tass.
Of the total investments planned, 70% are earmarked for infrastructure projects and 28.8% for buying rolling stock, Misharin said. The company plans to use the remaining funds to finance various social projects and for other purposes.
The company’s investment program envisages purchasing almost 2,000 locomotives, about 3,000 suburban trains and 3,600 passenger carriages.
The investments will also finance designing a new high-speed railroad between Moscow and St. Petersburg, reconstructing railroads between Moscow and Adler and Moscow and Nizhny Novgorod and opening new high-speed suburban rail links, including between Moscow's city center and Sheremetyevo International Airport, Misharin said.