Tuesday, April 14, 2009

Putin promised RZhD further assistance.

KommentariiPorabotali in ubytok31.03.2009Vse number of Russian companies no longer make pribylRossii need to find a way to fund an additional investment program "Russian Railways" approximately one hundred billion rubles. The statement was made by Prime Minister Vladimir Putin at a meeting on the program of development of transport infrastructure, transmits PRIME-TASS. These funds will go mainly to upgrade the rolling stock.
Putin acknowledged that the requirements of CFR is much more than the means by which state-owned company has. In doing so, the Prime Minister stressed that the Government has already decided to support CFR 50 billion rubles, which will be forwarded to the authorized capital of the company, transmits "Interfax".
Previously, it was reported that, according to projections of the company's net loss in 2009, CFR will be 49.7 billion rubles. In the first quarter of the state monopoly losses exceeded 26 billion rubles.
Losses RZhD associated with a sharp fall in passenger traffic due to economic recession in the country. Demand for products and, consequently, to its delivery to consumers have started to decline in autumn 2008.
In general, for the first quarter of 2009, passenger traffic declined by 14 percent over the same period a year earlier. The loading on wagons RZhD decreased by 27 percent.

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