Russian Railways to impose a reduced on 200 billion rubles investment program to 2020. According to the document, will increase funding for construction projects associated with the Eastern landfill, in particular for BAM and Transsib will give almost twice as much money than previously thought. Most of the affected repairs, renewal of fixed assets and rolling stock, the infrastructure update will be written off 143 billion rubles, will Also be reduced investment in the development of the approaches to the ports of the North-West and the Azov-black sea basin, which analysts believe is warranted with the current decline in demand.“B” acquainted with the detailed project adjusted to 200 billion rubles of the investment program of Russian Railways for 2020 volume 621,9 billion rubles according to “Kommersant”, in early April, Russian Railways reported a critical shortage of investment, which the company has only 210 billion rubles from the planned 821,2 billion rubles. Then the monopoly proposed to sequester the investment program to 698 billion rubles., for which she would be required to provide issuing and redemption of state-owned banks of its perpetual bonds worth over 300 billion rubles (see “Kommersant” on April 24)May .7 the head of regional administration Oleg Belozerov at meeting at President Vladimir Putin outlined the intention to maintain its investment at not less than 620 billion rubles and raised the question of the issue of perpetual bonds in an amount not less than 370 billion rubles, the President supported the idea (see “Kommersant” on may 8). Further, a draft of the Ministry of Finance, entitling the web.Of the Russian Federation to redeem the eternal bonds of OJSC Russian Railways for RUB 100 billion in pension funds. The Board of Directors of Russian Railways approved the prospectus.At the meeting with President Putin on 25 may Oleg Belozerov said that the investment program may increase without the help of the Federal budget and promised to come back with suggestions. “We know how to do it, but we need time to prepare the material,” he said. The Russian Railways has not explained what the options considered. Thus mister Belozerov has promised to add builders on the Eastern range and to concentrate on it, Perepyolkin plan.Indeed, in the new investment programme not just continue, but will grow significantly investments in the expansion of BAM and Transsib: on the first stage of construction they will increase by 78% to 85.5 billion rubles at the expense of a significant increase in funding from Russian Railways (2.6 times) and from the Fund by 50%, to 53.7 billion rubles. Slightly decrease the funding of the second phase by 5.4% to RUB 6.8 billion Other projects related to the increase of cargo passing in the East, will not undergo reduction: funding for the development of a site Mezhdurechensk—Taishet will remain at the previously approved level of 8.7 billion rubles, investment in the extension portion Artyshta—Mezhdurechensk—Taishet will increase by 9.2 percent to 4.65 billion rubles to the largest sequestration — by 37.7%, or 143,5 billion rubles— will undergo ��roject upgrading the infrastructure of Russian Railways. Within this category are affected the upgrade path all the repairs (minus 36.4 billion rubles), enterprises track complex (minus 33.4 billion rubles.), rolling stock (minus 24 billion rubles), equipment and power supply devices (minus 17.2 billion rubles). 15.4 billion rubles will be reduced investments in authorized capitals of subsidiaries.From infrastructure development projects the funds will nedobirayut previously deferred high-speed highway Moscow—Kazan, which has lost 11.2 billion rubles, as well as projects for the development of the approaches to the ports of the North-West (minus 15.4 billion RUB), and Azov-black sea basin (as a whole, minus RUR 13.5 bn) Financing of development of the Moscow transport hub will remain at the previous level of 79.3 billion rubles., but a similar project in St. Petersburg will not benefit from the budget of the city previously pledged 850 million rubles, and OAO Russian Railways cut its funding by almost half. The entire project will be funded in 2020 to 892 million rubles. Interlocutors “” in administration of Petersburg does not comment on this expenditure. The Russian Railways to comment on the document have refused.The head of Infoline-Analytics Mikhail Burmistrov believes that the slowdown in approaches to ports of the North-West as a whole and in the current situation warranted, because significant bandwidth problem out there today is not observed. The financing of the Eastern site would have to be increased even more. However, the expert may, Russian Railways is doing a discount on their capabilities. Recall that in 2019 Russian Railways has cut its investment of 57 billion rubles, including due to the inability to absorb the funds due to problems with contractors (see “Kommersant” on October 1, 2019).Natalia Skorlygina; Yana Voitsekhovskaya, Saint Petersburg
