RZD's investment program to total over 1.07 trln rubles in 2023 - Mishustin

MOSCOW. Nov 10 (Interfax) - The investment program for Russian Railways (RZD) will total over 1.07 trillion rubles in 2023, Russian Prime Minister Mikhail Mishustin said at a government meeting on Thursday.

"Today we'll discuss OJSC RZD's investment program and financial plan for next year. The overall planned volume of the investment program is a record based on its size. It will total, I will remind you, over 1.07 trillion rubles," Mishustin said.

The necessary decisions were made this year to ensure a balance in Russian Railways' operations amid a background of unprecedented external sanctions, the prime minister said. "Another 250 billion rubles were additionally allocated to finance capital investments. We have also allowed insurance premiums to be deferred. In the near future, we will reduce the debt burden on the company by more than 200 billion rubles, as instructed by the president. We are looking at the issue and will soon make a decision," he said.

"These measures will allow us to maintain the pace of programs to modernize and expand the primary infrastructure, including development of international transport corridors," the prime minister said.

It was reported earlier that the RZD investment program for the next three years would exceed 3 trillion rubles. "In order to finance priority investment projects, the investment program will amount to more than 800 billion rubles this year. For the next three years, its size will exceed 3 trillion rubles in total, which will also help develop related industries and enterprises that ensure the production and supply of necessary products," Mishustin said at a meeting on the development of railway infrastructure in Russia in October.