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Economic Ministry adjusts Ukrzaliznytsia investment plan for 2016 from UAH 20 bln to UAH 15 bln

Economic Ministry adjusts Ukrzaliznytsia investment plan for 2016 from UAH 20 bln to UAH 15 blnThe capital investment of PJSC Ukrzaliznytsia for 2016 is expected to reach UAH 15 billion.

According to the press service of the Ukrainian Ministry of Economic Development and Trade, the data were announced by Deputy Minister Ruslan Korzh during a round table with industrialists, when he presented a draft program for the development of domestic enterprises.

"The program foresees the capital investment of Ukrzaliznytsia for 2016 at the level of UAH 15 billion, which is several times more than this year. The financial plan of the company is ready and in the near future it will be submitted to the Cabinet for approval," Korzh said.

In early November 2015 Ukrzaliznytsia reported that its investment in 2016 to upgrade tracks, locomotives and wagons will amount to UAH 20 billion.

"Ukrzaliznytsia will be able to earn money, work qualitatively and effectively fulfill state orders. We are working on the financial plan of the company for 2016, which provides for investment in the renewal of tracks, locomotives and cars in the amount of about UAH 20 billion," Infrastructure Minister Andriy Pyvovarsky earlier said.
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