The supervisory board of the Ukrainian Railways joint-stock company (Ukrzaliznytsia) and the Ministry of Infrastructure have already approved Ukrzaliznytsia’s draft financial plan for 2021. The document has now been sent to the Ministry of Finance and the Ministry of Economy. The management of Ukrzaliznytsia is hoping that the draft financial plan will be approved by the end of 2020.

As the CFTS correspondent reports, Ukrzaliznytsia’s head Volodymyr Zhmak announced this during the presentation of the draft financial plan’s main indicators on 10 December 2020.

Zhmak again stated that Ukrzaliznytsia plans to invest more than UAH 4 billion in traction repair in 2021. "The focus of investments will be locomotives. UAH 4.1 billion will be invested in repairs. Our emphasis will be on repairs and not on purchases," Zhmak said.

In addition, according to him, UAH 2.7 billion will be invested in repair of existing railcars and UAH 3.6 billion in manufacture of new railcars. "We want to build 3,000 new railcars and repair about 10,000. An additional UAH 665 million will be spent on equipment and mechanisms," Zhmak said.

As reported earlier, Ukrzaliznytsia expects to earn UAH 3.53 billion in net profit in 2021 compared with the net profit of UAH 0.07 million that is projected for 2020, with revenue falling by 3.2% to UAH 86.504 billion.

According to the draft financial plan, Ukrzaliznytsia's EBITDA is projected to increase by 5.4% to UAH 19.175 billion and its capital investments by more than 2.1 times to UAH 27.238 billion in 2021 compared with 2020.

In addition, domestic passenger transport rates are expected to be indexed by 2% monthly in 2021, beginning on March 1.