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Railroad monopoly Russian Railways is planning to allocate $5.6 billion for investment projects
Railroad monopoly Russian Railways (RZD) is planning to allocate $5.6 billion for investment projects, Transportation Minister Igor Levitin said Thursday. "RZD is planning to invest $5.6 billion in 2006, which is 8.6% more than in 2005," the minister said during a cabinet meeting on RZD's investment program and financial plan for 2006-2008. The company plans to increase revenues by 8.2% in 2006, 9.3% in 2007, and 7.3% in 2008. At the same time, the depreciation rate of main assets is expected to reach 65% by the end of 2005 and drop to 52% by the end of 2008 due to higher competitiveness and the procurement of new equipment.
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