Ukrzaliznytsia plans record investments for 2023

During the press conference of the chairman of the board of UZ, information was made public that the financial plan of Ukrzaliznytsia for 2023 planned a record capital investment of UAH 50 billion. However, they are also talking about a loss of more than UAH 20 billion due to a large social burden and restrictions on cargo transportation. Railway Supply writes about this with reference to Rail.insider.

The following main indicators are planned:

income – UAH 83.9 billion;
expenses – UAH 107.9 billion;
receipts from the state budget – UAH 1.7 billion;
payments to the state – UAH 22.8 billion.

This is almost twice the expected result in 2022 – UAH 10.8 billion of net loss.

“We ended 2022 with a loss of almost UAH 11 billion. Damage from passenger traffic amounted to 13 billion hryvnia. This is despite the fact that we received 10 billion hryvnias of financial assistance from the state. We normally treat the loss last year and have planned damage for 2023, because we continue to perform an important state function,” said Alexander Kamyshin.

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As for the volume of freight traffic, the company does not expect their increase. They predict the level of freight traffic at the same stabilized level, approximately 300 thousand tons of load per day.

At the same time, the company spoke about a record capital investment of UAH 50 billion, which is four times more than in 2022. UZ will allocate funds both for the restoration of infrastructure and for its development. There are a number of promising projects, which Alexander Kamyshin promised to talk about later in the future.

As Alexander Kamyshin noted, debt restructuring is a significant financial relief for the company. In addition, he cited an agreement on the purchase of European rails as an example of profitable investment attraction.

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