Dec 14, 2019

Revenues of Russian Railways Holding from foreign projects to reach almost 500 billion roubles in 2019

Sergey Pavlov, the First Deputy Managing Director of Russian Railways, has said that by the end of 2019, the Russian Railways Holding expected to earn more than 467 billion roubles in revenue from foreign activities.

Pavlov was speaking at the final meeting of the Company Board in 2019.

Sergey Pavlov also stressed that next year, the Company expected to increase this figure to 550 billion roubles. In Pavlov’s opinion, the Holding has the necessary capacity to achieve this target, both with regard to engineering, construction and supplies, and in the transportation of goods and passengers.

Pavlov reminded the Board that 19 agreements on the development of cooperation had been signed with foreign partners in the field of railway transport and infrastructure construction this year, as well as two new contracts, one with Cuba for the modernisation of the country’s national rail network and the supply of rolling stock and equipment, and another with Serbia for the design and creation of a Unified Control Centre. The contracts are worth more than 2 billion euros.

In addition, said Pavlov, African countries, as well as Uzbekistan, Belarus, Vietnam, Saudi Arabia and a number of other countries, were showing interest in the competences and quality of work of the Russian Railways Holding.

The Company’s First Deputy Managing Director also praised the work of the Ulan-Bator and South Caucasus Railways, which Russian Railways manages through a form of trust management and shares and concessions.

"Ulan-Bator Railways will start implementing a programme to modernise the infrastructure and renew the locomotive fleet next year. This will boost the development of the Russia-Mongolia-China Central Corridor as one of the main transit routes for the delivery of goods between Asia-Pacific countries and Europe," said Sergey Pavlov.

In terms of developing transit, Pavlov said that a big breakthrough had been made with regard to the application of digital technologies in multimodal transportation. For example, in September, the INTERTRAN project was launched, which uses digital technology to deliver goods door-to-door by both sea and rail transport.

"Since the launch of this technology, 470 containers have been shipped, and it is now being used to deliver goods from ports in China and South Korea to Russian Railways station, which also makes it of great interest to our colleagues in Azerbaijan and Belarus. Next year we plan to expand the geographical reach where this technology can be applied so we can extend it to our nearest neighbors," said Sergei Pavlov.