June 04, 2015, 09:35 / Business / News

Russian Railways may withdraw from the Small Moscow Ring project – Kommersant

On June 29, the Board of Directors of Russian Railways OJSC will consider the issue of terminating participation in Moscow Ring Railway OJSC, the state company reported. Yesterday, the monopoly and the Moscow Ring Railway declined to comment. But Kommersant’s source , familiar with the plans of Russian Railways, explained that the issue arose due to the Moscow authorities’ proposal to recapitalize the Moscow Ring Railway in 2015 by 13.4 billion rubles. “This is necessary in order to pay for the construction of transport hubs, but Russian Railways made it clear that they are not going to invest their funds and raised the issue of leaving the company,” the Kommersant source noted. However, Interfax's interlocutor at JSC Russian Railways believes that the monopoly is concerned about a possible reduction in its share if the city increases the authorized capital of the Moscow Ring Railway. According to a Kommersant source, there is already an agreement in principle on this issue; the share of Russian Railways OJSC will be bought by the capital government, but the amount has not yet been determined: “An assessment is being carried out now, but it is clear that it is less than 2.5 billion rubles (the monopoly’s contribution to capital. - "Kommersant") JSC "Russian Railways" will not receive." Yesterday, the Moscow Department of Transport declined to comment.

JSC "MKR" was created in 2011 on parity terms by JSC "Russian Railways" and the Moscow Property Department. The task of the joint venture is the reconstruction and electrification of the Small Ring of the Moscow Railway and the launch of passenger traffic. The Moscow Ring Railway is responsible only for 32 transport hubs for transfer to the metro and ground transport, which will then become its property. In 2013, the Moscow Circle's expenses on transport hubs amounted to 3.9 billion rubles.