Railroad minister forecasts growth in freight transportation by rail

The volume of freight transportation by Russian railways may grow by 2.5%in 2002, Railroad Minister Gennady Fadeyev said at a meeting of theRailroad Ministry's Board today. According to him, the government plan for2002 provides for a 2% increase in the volume of freight transportation byRussian railways in 2002 compared to that of 2001. However, the ministerpointed out that the rate of growth in freight transportation reached 4% inJuly 2002 and 5% in August. Additionally, Fadeyev believes that the railroad industry will receiveexcess profits by the end of 2002. According to him, "the plan for profitscan be over fulfilled by RUR7bn ($221.45m)." The minister added that theplan for the restructuring of the Railroad Ministry's debts was beingimplemented on schedule..