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Russian RZD calls for additional $3 billion state support this year
Published: Fri, 2015-01-16 11:22-
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Additional funding is required for the purchase of new locomotives
Russian railway monopoly RZD has sent a petition to the national government, asking to provide additional 100 billion rubles (US$3 billion) of support this year, according to an official spokesman of the company.
Additional funding is required for the purchase of new locomotives, as well as for the development of railway infrastructure in the regions of the Far East, the Black Sea and Baltic Sea.
It is planned that RZD’s calls will be considered by the Russian government at the end of January of the current year.
In the case of a positive decision, the funds may be allocated from the National Welfare Fund, one of Russia's largest sovereign wealth funds, through the issuence of bonds for 30 years.
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