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Russian Railways will receive net profit of 9 billion rubles in 2006
Russia's railroad monopoly Russian Railways (RZD) will receive net profit of 9 billion rubles (about $333 million) in 2006, the transportation minister said Thursday. The company's rate of return will be 1.1%, Igor Levitin told a government session while presenting RZD's investment program and financial plan for 2007-2009. RZD received a net profit of 9.7 billion rubles (about $339 million) in 2005. Levitin said the company's three-year financial plan projects faster growth in revenue compared to expenditure, and as a result, "an increase in net profit from 10.1 billion rubles [about $375 million] in 2007 to 40.8 billion rubles [about $1.5 billion] in 2009." But the minister said RZD's rate of return in the three-year period would remain considerably lower than that of some other natural monopolies.
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