The board of directors of Russian Railways has made a decision to request government approval of its investment program for 2010 in the amount of nearly RUB 277bn (approx. USD 9.53bn), about 10 percent greater than this year’s investment program and almost 30 percent less than in 2008. Both the investment program and the financial plan for 2010 will be revised and submitted to the government for approval in the near future. Russian Railways also plans to make an IPO for two of its subsidiaries – TransContainer and Freight One, subject to favorable market conditions. Meanwhile, the company hopes to receive the same amount of support funds – RUB 50bn (approx. USD 1.72bn). (USD1 = RUB29.0488)

• Source: RosBusinessConsulting