MOSCOW, July 30. /TASS/. The period for implementation of the third phase of the Eastern Range (Baikal-Amur and Trans-Siberian railways) will be updated, considering the decline in freight transportation and the related dip in revenues, CEO of Russian Railways Oleg Belozerov said in an interview with Rossiya-24 television.

"Revenues declined; we are rebalancing the issue of our investment program, the operation of Russian Railways. The deadline will be updated accordingly, including for the third stage," he said.

Russian Railways can implement construction only using the money they earn, while the freight transportation volume has "very seriously" declined for the time being, Belozerov noted.