The investment budget of Russian Railways in 2011 is almost 350 billion roubles, an increase of 11% compared to 2010.
The Company plans to invest 62.2 billion roubles in constructing Olympic facilities and 286.8 billion roubles in its own projects.
“We will use the proceeds from the sale of stakes in our subsidiaries to create the necessary sources of investment. The Board of Directors and Company Board has been tasked with generating income totalling not less than 132 billion roubles from the sale of stakes. However, this is a temporary measure, and the possibility to use it after 2011 year is limited,” said Russian Railways President Vladimir Yakunin on 22 December at the final board meeting of 2010.
Despite some growth in investment, this is not sufficient to maintain and develop Russia’s railway infrastructure. Freight transportation rates do not include, as previously planned, any investment component. Government capital investment as part of the targeted federal programme have been reduced or postponed, and new Investment Fund projects are not being launched.
What is happening to the old track as I would be interested