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Medvedev proposes review of Russian Railroads investment program.

August 05, 2012, 23:27 UTC+3
According to the estimates of Russian Railroads CEO , the company will need about 5.7 trillion ruble investments in the period before 2020
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OMSK-TOMSK, August 5 (Itar-Tass) —— Prime Minister Dmitry Medvedev has proposed a review of the Russian Railroads investment program in the period until 2020 with due account of the company’s needs.

He made the statement at the Sunday conference on the development of Russian railroads he chaired on a train to Tomsk, the second leg of his tour of the Siberian Federal District.

“I instruct the Economic Development Ministry, the Transport Ministry and the Industry and Trade Ministry to analyze the current decision and evaluate the amount of investments the company needs in the long-term prospect. If necessary, proposals should be made to correct the investment program in the period until 2020,” Medvedev said.

According to the estimates of Russian Railroads CEO Vladimir Yakunin, the company will need about 5.7 trillion ruble investments in the period before 2020, while the deficit of funding of the program stands at 1.88 trillion rubles. Medvedev proposed to think about new mechanisms for financing infrastructural projects of the company.

Medvedev also demanded the elaboration of methods to substantiate the growth of railroad tariffs.

 

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