The Ukrainian Railways public joint-stock company (Ukrzaliznytsia) plans to spend more than UAH 27 billion on upgrade of rolling stock and infrastructure this year. The company announced this in a statement, citing data provided by its Director of Economics and Finance Andrii Riazantsev.
"We will spend UAH 27.5 billion on upgrade of rolling stock and infrastructure this year," Riazantsev is quoted as saying.
The level of wear and tear of Ukrzaliznytsia’s rolling stock is currently about 90%.
The company is launching a large-scale, long-term investment program for upgrade of its rolling stock and infrastructure in the period of 2017-2021. Ukrzaliznytsia plans to manufacture 9,000 railcars at its own facilities this year.
As reported, Ukrzaliznytsia spent UAH 2.8 billion on upgrade of its rolling stock and UAH 2 billion on modernization of its fixed assets last year, including UAH 0.9 billion on rolling stock.