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Rossiyskiye zheleznye dorogi OAO's Passenger Subsidiary to Receive RUB 27 Billion in Subsidies in 2014-Interfax

Monday, 18 Nov 2013 07:42am EST 

Interfax reported that OJSC Federal Passenger Company (FPC), the passenger subsidiary of Rossiyskiye zheleznye dorogi OAO (Russian Railways or RZD), will receive about RUB 27 billion in subsidies from the federal budget in 2014 to compensate for regulated fares on economy class sleeper car service and general passenger car service, RZD President Mr. Vladimir Yakunin told journalists. Fares for general passenger cars and economy class sleeper cars will rise 4.2% on January 1, 2014, compared with increases of 10% a year in a succession of years through 2012 and an increase of 20% in 2013, FPC has said that the budget was not allocating enough to compensate losses from state-regulated fares. The state will provide a total of RUB 78 billion in subsidies to RZD in 2014, including RUB 25 billion to cover infrastructure tariffs for commuter train service and RUB 26 billion (that may be temporarily taken from money for the Baikal-Amur Mainline and the Trans-Siberian Railway project and the returned) for capital repairs to rail lines, he said. 

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