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Dec 13, 2017

Revenues of Russian Railways Holding from foreign business could exceed 468 billion roubles in 2017

The revenues of the Russian Railways Holding from foreign business in 2017 may exceed 468 billion roubles, said Alexander Misharin, First Deputy CEO at Russian Railways.

Misharin was speaking during the Company’s final Board meeting, which took place in Moscow on Wednesday, 13 December 2017.

The basis for the development of the Company’s foreign business, said Alexander Misharin, was to enter new international markets and increase the export potential of the RZD Holding.

Misharin also stressed that the directions and key priorities of the long-term development of the Russian Railways Holding's business in international markets were reflected in the draft Long-Term Company Development Programme and the Holding's foreign business strategy until 2025.

"We have set ourselves the task of achieving at least 22% of our total revenue from foreign business by 2025. Our goal is to achieve sales of 600 and 800 billion roubles in foreign business by 2020 and 2025 respectively," said Alexander Misharin.

In the course of his address to the Board meeting, Misharin announced the main results of implementing infrastructure projects of the Russian Railways holding company abroad.

In 2017, a number of projects were carried out in Serbia, including the reconstruction of the Belgrade- Pančevo line and the completion of 6 sections of the X Pan-European International Transport Corridor. Services were also launched on the Resnik-Valevo stretch.

In September, experts from the RZD Holding began developing a feasibility study of the Nagpur-Secunderabad modernisation project in India.

A contract was signed with Iranian Railways to electrify the Garmsar-Inche Burun section and supply Russian equipment and materials.

This year also saw a contractual agreement signed to restore and modernise the infrastructure of Cuba’s railways.

According to Alexander Misharin, the obligations planned for 2017 under the concession management of Armenia’s railways and the Ulan Bator Railway have been fully implemented.

"It is forecast that 22.3 million tons of freight will be transported in 2017, the highest figure ever in the entire history of the Ulan Bator Railway," said the first deputy CEO.

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