RZD receives USD 1.2 billion for investment projects

The Russian government will increase the charter capital of Russian Railways (RZD) by 64.3 billion rubles (USD 1.2 billion) to help the giant corporation carry out a series of investment projects.
Of the extra capital, 16.9 billion rubles (USD 316 million) will go to modernizing the century-old Trans-Siberian Railroad and its tributary, the Baikal-Amur Mainline, the statement said.
Another 19.3 billion rubles (USD 362 million) will be used for developing public transport in the Moscow region. Others projects on the list include the construction of a high-speed railway between Moscow and Kazan.
Russian Railways, the country’s largest employer with a workforce of more than 1 million people, currently has a charter capital of 1.97 trillion rubles (USD 37 billion), meaning it will now rise by 3 percent to 2.03 trillion rubles (USD 38.1 billion), the Prime news agency reported.