Russian Railway Unveils Three Year Financial Plan

Russian Railways CEO Oleg Belozerov spoke at a meeting chaired by Russian Prime Minister Dmitry Medvedev

In 2020 – 2022, JSC Russian Railways optimizes costs by 120 billion rubles. This was reported by the company’s press center with reference to a speech by Oleg Belozerov, Director General of Russian Railways , at a meeting chaired by Russian Prime Minister Dmitry Medvedev. 

The meeting was held on a train en route from Novosibirsk to Barnaul and was devoted to the consideration of the financial plan and investment program of Russian Railways for 2020 and a three-year period. 

Oleg Belozerov noted that the average annual increase in labor productivity in the company in 2020 – 2022, as well as on the entire horizon of the Long-term program
development of Russian Railways, laid at + 5%.

 “We will surely cope with this figure,” said the head of Russian Railways, emphasizing that over the past 4 years, labor productivity has grown by 27%. 

Next year, the company completes the first stage of modernization of the BAM and the Trans-Siberian Railway and proceeds to the turnaround of work on the second stage of the project . At the same time, this year JSC Russian Railways will reach the volumes of transportation included in the project passport, Oleg Belozerov said.

At the same time, he noted that the project was comprehensive and included not only the development of railway infrastructure, but also coal deposits. At the same time, Russian Railways fulfilled its tasks, and the coal companies, according to him, “have not developed their deposits so much”.

In order to minimize the risks associated with the accuracy of the assessment of the cargo base, the head of Russian Railways proposed to prescribe the topology of the development of coal enterprises and transportation volumes in the specialized programs of the coal industry. 

“We are asking to support the proposal to clearly write the topology – these are the locations of coal enterprises and their volumes – and to clearly fix it. They must be synchronized in the program, ”emphasized Oleg Belozerov.

The investment program and financial plan of JSC Russian Railways for 2019 and the planning period 2020-2021 were approved by the Government of the Russian Federation in November 2018. The volume of the investment program for 2019 exceeds 680 billion rubles, for 2020 – 820 billion rubles, for the 2021st – 745 billion rubles.

Russian Railways OJSC (Russian Railways OJSC) is a Russian railway carrier. The company was established on October 1, 2003. The Government of the Russian Federation owns 100% of the shares of companies.


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