Russian Railways will cut their investment programme by 200 bn rubles ($2.8 bn), company CEO Oleg Belozyorov told RF President Vladimir Putin during their meeting on Monday.
He said that the programme initially worth 820 bn rubles ($11.5 bn) has been reduced down to 620 bn rubles ($8.7 bn). The segments that were sequestered include project and design development.
Vladimir Putin approved the investment reduction but insisted that the real sector should not suffer.
Oleg Belozyorov said Russian Railways can increase investment using its own resources without support from the federal budget, ‘but we need some time to formulate the suggestions,’ he added.
Phtoto: Kremlin