OREANDA-NEWS. December 08, 2010. The Presidium of the Russian government considered the investment programme and financial plan for Russian Railways for 2011-2013. The Company’s investment programme in 2011 will be about 350 billion roubles, reported the press-centre of Russian Railways.

Vladimir Yakunin, president of Russian Railways, told reporters that the Presidium made a positive decision on the investment programme and financial plan for 2011.

A final decision on 2012 will be taken according to the results of a specially created working group chaired by Deputy Prime Minister Sergei Ivanov and which includes Russian Railways and all concerned government agencies and departments.

According to Yakunin, setting the parameters for indexing freight rates in 2012 at 23% was done in accordance with the government-approved commercially-based tariff.

"Russian Railways did not, and does not, insist on any particular tarriff increases, but we use this method to calculate that increase in tariffs needed to ensure a minimum investment programme and a programme of capital repairs to ensure safe carriage. The figure is the base for the government in terms of identifying potential tariff increases and the necessary amount of offsetting subsidies from the national budget to ensure the necessary investment programme," said Vladimir Yakunin.