Russian Railways Board Approves Financial and Investment Program
OREANDA-NEWS. September 14, 2007. The Company will invest an estimated 402 billion roubles in 2008, 442.8 billion roubles in 2009 and 451.2 billion roubles in 2010.
Russian Railways' financial plan provides for an increase of 5.9% in freight turnover in 2008, of 5.5% in 2009 and of 4.8% in 2010.
In 2008, passenger turnover is forecast to increase by 0.6% compared to 2007, by 0.6% in 2009 and by 0.2% in 2010, while during the period from 2008 to 2010, tarrifs should rise by 11%, 9% and 8% each year respectively.
Long-distance passenger tarrifs, which are government regulated, should rise by 14% in 2008, in 2009 by 13% and in 2010 by 12%.
Tarrifs not regulated by the government, namely long-distance express passenger trains and compartment coaches, will increase by 19% in 2008, 13% in 2009 and by 12% in 2010.
The Company's revenues in 2008 should be 1.755 trillion roubles, an increase of 12.3% compared to 2007, rising by 11% in 2009 to 1.1941 trillion roubles and by 10.8% in 2010 to 1.322.8 trillion roubles.
Expenditures in 2008 are expected to reach 996.9 billion roubles, an increase of 11.4% compared to the prefious year, rising in 2009 to 1.1071 trillion roubles (up 11.1%) and in 2010 to 1.2527 billion roubles (up 13.1%).
Net Profit in 2008 is expected to come in at 23 billion roubles, rising in 2009 to 33.2 billion roubles and in 2010 to 51.2 billion roubles.
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