14:29 06.12.2017

Ukrzaliznytsia intends to send UAH 13-16 bln of own funds for capital investment in 2018

Ukrzaliznytsia intends to send UAH 13-16 bln of own funds for capital investment in 2018

 Public joint-stock company Ukrzaliznytsia intends to send some UAH 13-16 billion of own funds for capital investment next year, acting Board Chairman of Ukrzaliznytsia Yevhen Kravtsov has said.

"We prepared the capital investments and financial plan in an open mode. The figure was at the level of UAH 52 billion - the total demand throughout Ukrzaliznytsia. Several discussions and meetings were held regarding the capital investment plan. At the first stage the figure was reduced to UAH 32 billion for the most important directions for the next year. Of course, we cannot afford this amount. We estimate the opportunity for capital investments at the level of UAH 13-16 billion of our own funds for next year," he said at a press conference in Kyiv on Tuesday.

He said that consultations were held on the critical areas for investment and it is planned to complete all related procedures during the current week.

"What was the reason for the delay in the work on the financial plan: the financial plan for this year was adopted a month after I took office, in September. Respectively, we were late with the plan for 2018. The second, we saw that open procedures take more time than traditional decision-making behind closed doors, but we are planning to approve the financial plan no later than early next year. We will try to do it at the end of this year," Kravtsov said.

Regarding additional funds, he said that Ukrzaliznytsia will take them from international financial institutions, for example, to electrify the Dolynska-Mykolaiv section and purchase rolling stock.

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