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08.12.2017

Yevgen Kravtsov: Funds raised from tariffs indexation were directed to our CAPEX from special separate account. It was made for the first time in the history of Ukrzaliznytsia

Today Ukrzaliznytsia made the first payments from a special investment account, which accumulates funds from the indexation of tariffs. Investment account is valid for transparent use of funds for investment activities of the company.

 "Today, December 8, funds raised from tariffs indexation were directed to our CAPEX from special separate account. It was made for the first time in the history of Ukrzaliznytsia. The amount is almost 70 million UAH, which were payed for 25 railcars of Popassiansk WRF, modernization and overhaul of locomotives, materials of the upper structure of the track, etc. We carry out market agreements, make the company transparent and open, publicly demonstrate the movement of funds from the investment account for the renewal of fixed assets, "- noted a Chairman of the Board Yevgen Kravtsov.

In total, from the first day of the indexation of tariffs on the investment account of Ukrzaliznytsia received 728.4 million USD.

According to him, an increase of capital investment indicates a stable financial and economic situation in the company, which allows updating the fixed assets. "For 11 months we have mastered almost 8 billion USD of capital investments - this is more than for the whole past year. In general, in 2017, we expect that the capital investments will amount to 10.8 billion UAH. Next year, plans for our capital investments are much bigger: we are planning to direct funds to the beginning of the implementation of electrification projects of key areas, the completion of work in the Beskid tunnel and its opening for traffic, renewal of freight wagons and locomotives, passenger cars, commuter trains. We will continue cooperation with world producers and international financial organizations, "said Yevgen Kravtsov.

Recall that the indexation of tariffs for freight transportation by 15% began to operate on October 31, 2017.