20 Mar 2019 16:47

Medvedev says signed RZD development program up to 2025

MOSCOW. March 20 (Interfax) - Russian Prime Minister Dmitry Medvedev says that he has signed a development program for Russian Railways (RZD) up to 2025.

"I've signed a document that's been expected for a fairly long time. This is the long-term program of development of Russian Railways," Medvedev said on Wednesday at a meeting with the head of RZD, Oleg Belozerov.

"You and I have discussed its [the document's] contents several times at various meetings. It takes into account the main areas of your development in the next few years, including a whole range of fundamental solutions for Russian Railways. So get working," Medvedev said.

Belozerov said that thanks to the approval of the program, RZD will be able to attract about 4 trillion rubles in investment.

"Respected Dmitry Anatolyevich, many thanks for signing the document. This is a key document that's now creating the conditions for our active development up to 2025. The numbers speak for themselves: almost 9 trillion [rubles in investment]. And thanks to this document, we'll be able to attract about 4 trillion in funds from investors. This is a signal for the market, a signal for producers, that very active work is beginning," Belozerov said.

He also discussed RZD's results in 2018. "I'd also like to inform you that our results to Russian Accounting Standards [RAS] were higher than was planned: we made 18 billion [rubles] in profit. These happen to be the funds that will be directed to the implementation of this program," Belozerov said.