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Russian Railways to invest RUB7.7 trillion

MOSCOW: December 04, 2017. Speaking at the III Railway Congress at the beginning of this month, OJSC Russian Railways president Oleg Belozerov said the company is going to spend RUB7.7 trillion by 2025 on modernizing the country's rail network.

VLAD PProjects will include the construction of the Northern Latitudinal Railway, in Russia's Arctic region, and a link to the island of Sakhalin as part of the ongoing rail upgrades in Russia's Far East region.

"The most important thing is that in the coming years, the railway will come to those regions where it has never previously existed," explained Belozerov.

He also noted that a key element in the development program should be the Eurasia high-speed freight and passenger main line: "Freight transportation is a very important priority for us. We estimate that loading volumes will increase by 300 million tons by 2025."

Following a visit to a repair and equipment depot at the Moscow-Kievskaya railway station, Russian president Vladimir Putin (center of picture) reminded Congress delegates that Russian Railways is competing for the world's flows of freight traffic, is the largest corporate employer in the country, and one of the main customers for its engineering sector.

"The dynamics of the development of the whole country, the quality of the national economy and its global competitiveness depend greatly on the work of Russia's railways," he said.

"It is important that Russian Railways systematically increases its efficiency and labor productivity. During the last 5 years, it has increased productivity by one third, this year it will rise by 9.0 percent, and according to the plan for 2018, it will rise by another 5.0 percent next year," he added.

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