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Economy 2017-09-12T16:56:24+03:00
Ukrainian news
Ukrzaliznytsia Expecting Loss Of Over UAH 11 Billion From Passenger Carriages In 2017

Ukrzaliznytsia Expecting Loss Of Over UAH 11 Billion From Passenger Carriages In 2017

The Ukrzaliznytsia public joint-stock company expects over UAH 11 billion in losses from passenger carriages in 2017.

Financial Director of the PJSC Andrii Riazantsev said this during presentation of the five-year development strategy of the enterprise, Ukrainian News Agency reports.

The financial plan of the PJSC for 2017 envision UAH 10,506.6 million of losses from passenger carriages.

Riazantsev noted that in recent years, the state has not compensated losses of the PJSC from carrying social security beneficiaries.

As Ukrainian News Agency earlier reported,

The Ukrzaliznytsia public joint-stock company intends to invest USD 5.864 billion in infrastructure and rolling stock before 2021.

In particular, USD 1.875 billion will be spent for infrastructure, USD 3.28 billion for acquisition of rolling stock and about USD 700 million in modernization of existing rolling stock.

Ukrzaliznytsia plans to restore 84 locomotives in September.

In compliance with the international financial reporting standards, in 2016, Ukrzaliznytsia cut its loss 2.3 times or by UAH 9.5 billion to UAH 7.3 billion year over year.

In 2016, Ukrzaliznytsia upped revenues from sales by UAH 6.4 billion to UAH 66.6 billion.

The Ukrzaliznytsia public joint-stock company started its economic operations on December 1, 2015.

Ukrzaliznytsia incorporates Donetsk, Lviv, Odesa, South, Southwestern, and Prydniprovska state-run railroad enterprises, as well as other production and technological enterprises and organizations engaged in provision of freight and passenger carriages.

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