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Feb 04, 2016

Investment in construction programme of Russian Railways in 2016 to exceed 250 billion roubles

RU EN

Oleg Beloziorov, President of Russian Railways, has held a meeting with the Company's construction division to ensure its target parameters in the field of capital construction in 2016 will be met.

In his address to the meeting, the President of Russian Railways said that in 2015, the construction division as a whole fulfilled its set tasks, while fixed assets in the amount of 120 billion roubles had been introduced.

In addition, work was well underway on the development of the rail network in Eastern Russian, the construction of approaches to the ports of the North-West and the Black Sea basin, the reconstruction of the Moscow hub and the design of the Moscow – Kazan High-Speed ​​Line.

"These projects are very large and important for the country, and they are being financed from every possible source, including from the Company's own funds, the National Wealth Fund and directly from the federal budget. Moreover, despite the overall optimisation of public spending, all planned funds have remained in the Company's investment programme," said Oleg Beloziorov.

The meeting also noted in particular that in the current difficult economic situation, Russian Railways had undertaken major efforts to make savings. By updating the action plan for the development of the rail network in Eastern Russia, savings of more than 8 billion roubles had been achieved, while another 2.8 billion roubles had been economised in the development of the Small Ring of Moscow Railways. This work will be continued in 2016.

The participants at the meeting also discussed improving the pricing system and improving the effectiveness of the technical and technological solutions used in the projects, as well as reducing the time required for conducting the expert reports necessary for the technological and price audit of the developed project documentation and eliminating the comments received.

The Company's construction programme for 2016 amounts to 251.2 billion roubles in all and aims to achieve a balanced development of the Company, increase income from transportation operations, remove restrictions on Russia's economic growth and create favourable conditions for business development in the country.

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