Dec 13, 2017

Oleg Belozerov sums up preliminary results of the work of Russian Railways in 2017


At the final meeting of the Board of OJSC Russian Railways this year, the CEO and Chairman of the Board Oleg Belozerov summed up the preliminary results of the Company's work in 2017.

The board met in Moscow on Wednesday, 13 December 2017.

"This year, 2017, has been successful. Thanks to the well-coordinated and efficient work of the almost one million employees at the Holding Company, we have managed to achieve much and ensure the implementation of all the volume indicators," said the Company head.

According to preliminary figures, loading on the network of Russian Railways will increase by almost 3% compared to 2016 to reach a total of 1.258 billion tons of cargo. Freight turnover will set a new record and reach an all-time high during the entire recent history of Russia, with an increase of 30% in comparison to the level in 1992.

Passenger numbers in 2017 are expected to reach almost 1.115 billion, an increase of 7.5% compared to 2016, which saw the highest figure in the last 8 years.

"The Company has undertaken serious measures to optimise costs. We have saved 65 billion roubles this year alone. Over the past two-and-a-half years, we have optimised costs amounting to almost 170 billion roubles," said Oleg Belozerov.

The investment programme of Russian Railways in 2017 reached an absolute record and amounted to about 500 billion roubles.

The Company has increased its infrastructure repair programme by a quarter.

Freight traffic speeds have increased by 2.5% and amounted to 40.7 kph, while the average freight train weight is now more than 4,000 tons.

The labour productivity of employees at OJSC Russian Railways has increased by more than 9%.

In 2017, the Company paid special attention to improving transport safety. The number of transport incidents attributable to the RZD Holding’s subdivisions decreased by 27% and across the Company’s whole infrastructure by 33%.