Russian government to provide EUR 1 billion of support to RZD
Published: Thu, 2015-01-08 15:23
wWill provide the company additional funding for the implementation of two programs
The Russian government has officially approved the issuance of preferred shares of Russian railway monopoly RZD in the amount of 50 billion rubles (EUR 1 billion).
This will provide the company additional funding for the implementation of the program for the development of the Baikal-Amur and Trans-Siberian Railway and the expansion of their capacity.
It is planned that the funds will be allocated from the National Welfare Fund (NWF), Russia's sovereign wealth fund.