You're reading: Cabinet approves Ukrzaliznytsia’s fiscal plan for 2018

The Cabinet of Ministers of Ukraine at its meeting on February 14 approved the consolidated financial plan of PJSC Ukrzaliznytsia for 2018 with income in the amount of Hr 92.2 billion and a profit of Hr 700 million.

According to a press release of the company, taxes and charges to the budget in 2018 will amount to Hr 18 billion, capital investments to Hr 26.9 billion. The volume of freight traffic is to rise by 2.7 percent, to 347.5 million tonnes.

“In record time, the government approved the financial plan of Ukrzaliznytsia. This opens the way for starting capital investments, purchases, the efficient planning of the company’s work, launching large-scale projects, including electrification of the key areas, purchase of freight and passenger cars, and acquisition of locomotives. The preliminary discussion of the plan occurred in an unprecedented openness with the market participants, we took into account their proposals,” company head Yevhen Kravtsov said.

So, it is planned to purchase 30 freight diesel locomotives on lease, 60 passenger cars, upgrade 7,050 freight high-sided wagons, from which it is possible to manufacture 3,600 high-sided cars at own factories, update 100 fitting platforms, modernize 265 passenger cars, 153 locomotives, 100 sections of railcar rolling stock and about 10,000 freight wagons. Also, the financial plan increased the amount of rolling stock repairs to maintain the working fleet.