The Ukrainian Railways public joint-stock company (Ukrzaliznytsia) spent UAH 3.5 billion on renewal of rolling stock in the period of January-June, which is twice the amount it spent in the corresponding period of last year. Ukrzaliznytsia’s acting Board Chairman Yevhen Kravtsov announced this, the CFTS reports.

"Ukrzaliznytsia’s investments in rolling stock amounted to UAH 6.2 billion in 2017, a record amount for the past five years. Ukrzaliznytsia’s investment in renewal of its rolling stock amounted to almost UAH 3.5 billion in the first half of 2018, which is 94% more than the UAH 1.8 billion it invested in the corresponding period of 2017," Kravtsov said.

Kravtsov also said that production of rolling stock increased by 172.4% in the first half of 2018, making this sector one of the three fastest growing sectors of the Ukrainian economy.

According to Kravtsov, Ukrzaliznytsia’s capital investments in rolling stock gave an impetus to production of new railcars both at the company's plants and at other enterprises. In addition, production of railcar casting, spare parts for railcars, and other related products is resuming.

In addition, Ukrzaliznytsia built 2,606 freight cars in 2017 (38% of the total number of railcars produced in the country). Ukrzaliznytsia produced 1,740 railcars (34%) in the first half of 2018, Kravtsov said.

As reported earlier, branches and subsidiaries of Ukrzaliznytsia made capital investments of UAH 4.442 billion in the first five months of this year, which is 1.8 times more than their capital investments in the same period of last year.

Ukrzaliznytsia plans to spend almost UAH 3 billion on track repair works this year, which is 15% more than it spent last year.