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Mar 08, 2019

Oleg Belozerov says shippers to be informed about infrastructure repair plans during summer period

 

 

Oleg Belozerov, the Chief Executive Officer and Chairman of the Board of Russian Railways, has held a conference call with the heads of the railways.

Under discussion were the results of the Company’s work during January-February 2019 and the tasks for March.

The Company head noted that tariff turnover had increased by 1.9% during the year’s first two months and by 2% after taking into account empty runs of privately-owned wagons. A total of 205.4 million tons of freight were shipped, 0.9% more than in the first two months of last year.

During January and February 2019, the Company transported more than 167 million passengers, 3.2% more than in the same period of 2018. Passenger turnover increased by 2.5%. Suburban passenger turnover was up by 3.1%, while long-distance passenger turnover rose by 2.2%. Labour productivity increased by 3.2%.

Speaking about the Company’s upcoming tasks concerning the track work during the summer period, Oleg Belozerov gave instructions that the plans for carrying the maximum volumes of freight had to be synchronised with clients.

"We received a clear request from our customers that we should inform them about our plans for repairs and their scale, the routes on which the work would be carried out and the repair schedule. I consider it necessary to organise this work in the near future," he said.

With regard to the Company’s results on the financial and economic side, Oleg Belozerov also focused on the fact that Moody’s had raised the rating of Russian Railways by one notch with a stable outlook.

The CEO also stressed that out of 12 companies whose rating the agency had decided to increase above that of Russia’s sovereign rating, only three, including Russian Railways, were in the infrastructure sector rather than resource extractive industries.

"The Company’s strong development is being noted positively by the investment community, which sees this trend continuing over the long term," said the head of Russian Railways.

 

 

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