Ukrzaliznytsia public joint stock company asserts the necessity of UAH 111.4 billion during the next five years to cover losses from passenger traffic.
Ukrzaliznytsia said this in a statement, Ukrainian News Agency reports.
“Over the next five years, Ukrzaliznytsia needs UAH 111.4 billion to cover losses from passenger traffic and capital investments in the sector. To do this, the state budget should provide for legislatively determined reimbursements to Ukrzaliznytsia for performing social and other additional functions,” the statement reads.
According to the statement, at present the deterioration of passenger electric locomotives and diesel locomotives is 96%, and of wagons - 92%.
Also it is noted that the issue of the maintenance of a railway infrastructure has to be solved at the state level.
The statement said that the absence in the state budgets of all the years of independence of the legally established financing of passenger traffic led to the fact that they are actually fully financed by freight.
As Ukrainian News Agency earlier reported, Ukrzaliznytsia reported a profit of UAH 114 million and EBITDA (earnings before interest, taxes, depreciation, and amortization) of UAH 20.06 billion for 2017.
The company began commercial operations on December 1, 2015.
Ukrzaliznytsia operates the Donetsk, Lviv, Odesa, Southern, Southwestern, and Prydniprovskyi railways, as well as other enterprises and organizations facilitating transportation of goods and passengers.
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