16:52 20.05.2021

Zelensky considers partnership with private investors necessary for Ukrzaliznytsia

1 min read
Zelensky considers partnership with private investors necessary for Ukrzaliznytsia

President of Ukraine Volodymyr Zelensky considers it necessary to find ways to involve private investors to Ukrzaliznytsia.

"I believe that Ukrzaliznytsia is a strategic enterprise. But it is necessar to think about how to get there a partnership with private, real investors. I believe it will be very difficult without them. This enterprise has been bankrupt for many years, and only by force, only by planting it can be put in order," he said at a press conference in Kyiv on Thursday.

Zelensky considers it necessary to replace all management links of Ukrzaliznytsia in order to eliminate corruption in the company.

The president also said he believes that the reason for the bankruptcy of Ukrzaliznytsia is a large number of loans with a high interest rate.

At the same time, he said that unprofitable passenger transportation is not the reason for the bankruptcy of the company.

"Ukrzaliznytsia has a loan debt of hundreds of millions of dollars [...]. They took loans at 10%-12%. This or that 'gasket' between a certain bank and Ukrzaliznytsia earned on this. [...] Therefore, one of the reasons is the accumulation of loans with a very high rate," the president said.

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