14:08 20.10.2015

Ukrainska Zaliznytsia financial plan to foresee purchases of rolling stock in 2016

1 min read
Ukrainska Zaliznytsia financial plan to foresee purchases of rolling stock in 2016

The 2016 financial plan of joint-stock company Ukrainska Zaliznytsia, which is currently being created, foresees purchases of freight rolling stock, Director for Reformation, Asset and Law Policy at the State Railway Administration of Ukraine (Ukrzaliznytsia) Yevhen Kravtsov has said.

"Now the financial plan is being drawn up and we face the issue that earlier there were 49 financial plans for all enterprises of Ukrzaliznytsia, and now one is required," he said in an interview with Interfax-Ukraine.

Kravtsov said there are many inter-group transactions which should be removed, as this seriously influences the drawing up of the plan.

"It would be drawn up in the term defined. Of course, there will be funds, they have been declared, found, and will be used," he added.

Kravtsov also said that the issue of foreign borrowing has not been discussed.

"We are in the process of restructuring the current liabilities on foreign borrowings. There are agreements with creditors to restructure 82% of the internal debt, Lazard company is working with foreign borrowing. Lazard was involved by the Finance Ministry to work with all state and quasi-state debts," he said.

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