The Ukrainian Railways public joint-stock company’s Board Chairman Wojciech Balczun expects the company to make a profit of up to UAH 300 million in 2016.

Balczun announced this on his Facebook page, the CFTS portal reports.

"I think we may [make a profit] in the range of UAH 300 million in 2016. We have changed the financial plan for this year, increased the number of repairs, begun building new railcars, upgrading the rolling stock, and improving procurement. As already mentioned, we are planning a profit of UAH 300 million for the year," Balczun said.

Ukrainian Railways’ financial plan for 2017 provides for tariff increases: a 25% increase in freight tariffs and a 35% increase in passenger tariffs.

However, Ukrainian Railways plans to increase its capital investments 2.4-fold to UAH 27.4 billion in 2017.