PJSC Ukrzaliznytsia intends in 2017 to raise tariffs for freight transportation by 22.5%, the company said in a press release, with reference to the draft consolidated financial plan posted on its website.

According to the press service, the figures are calculated using international financial reporting standards.

"Tariffs for passenger rail transportation will not be raised this year, while those for cargo transportation within Ukraine from June will rise by 22.5%. Such steps will allow us to make the largest capital investments in the whole history of railway transport – UAH 22.7 billion. Most of the funds will be used to solve the most acute problem - the renewal of rolling stock," the report said.

According to company head Wojciech Balczun, the implementation of Ukrzaliznytsia's capital investments plans will provide jobs at production facilities in Ukraine and will contribute to the overall revival of the domestic economy.

"If the indexation of tariffs does not occur, PJSC Ukrzaliznytsia will have to curtail its capital investment programs, which will lead to negative consequences for Ukraine as a whole," he said.