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Government increases authorized capital of Russian Railways to $597.75 mln

The corresponding decree was published on Wednesday on the official government website

MOSCOW, February 10. /TASS/. The Russian government has increased the authorized capital of Russian Railways to 47.38 bln rubles ($597.75 mln) for the implementation of investment projects for the development of a public railway infrastructure. The corresponding decree was published on Wednesday on the official government website.

"The authorized capital of Russian Railways was increased to 47.38 bln rubles ($597.75 mln) for the implementation of investment projects for the development of public railway infrastructure, including the construction of the railway line Prokhorovka - Zhuravka - Chertkovo - Bataisk, and the design of Moscow - Kazan high-speed rail," the statement said.

According to the explanatory note to the document, 18.89 bln rubles ($238.68 mln) will be spent on the reconstruction of the section Gorky - Kotelnikovo - Tikhoretskaya - Krymskaya bypassing the Krasnodar railway junction; 16 bln ($202.17 mln) for the construction of the railway line Prokhorovka - Zhuravka - Chertkovo - Bataisk: 12.39 bln rubles ($156.34 mln) for the implementation of investment projects for the development of public railway infrastructure, including the Moscow region; 100 mln rubles ($1.2 mln) for Moscow - Kazan high-speed, which is in the design stage.

According to the Federal Law "On Joint Stock Companies", additional shares could be placed by the Company only within the limit of the number of authorized shares established by the company's charter. Therefore, the government also decided to make a change to the Russian Railways charter regarding authorized capital and number of placed shares.

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