PJSC Ukrzaliznytsia intends in 2017 to attract loans in the amount of UAH 16.2 billion and to repay loans worth UAH 16.8 billion.

Such plans are contained in the explanatory note to the finalized draft consolidated financial plan of the company for 2017 posted on its website.

According to its data, as of January 1, 2017 the financial liabilities of the company were UAH 40 billion at the rate of UAH 27.19/$1 at the end of the year, the balance by the end of the year will stand at UAH 39 billion at the rate of UAH 26.6/$1.

The company plans to use the funds raised in the amount of UAH 16.2 billion to spend on the completion of construction of the Beskydsky tunnel, the electrification of the railway section Dolynska-Mykolaiv-Kolosivka, track reconstruction, purchase of passenger wagons, modernization of rolling stock, as well as refinancing the existing obligations.

It is also planned to place bonds for UAH 2 billion to replenish working capital (refinancing the existing obligations, including the debt owed to the banks from the sanctions list under the decision of the National Security and Defense Council dated March 15, 2017), to attract short-term loans for UAH 1.8 billion.