$1bn to be invested in Russian Postal Service

$1bn is supposed to be invested in the modernization and development of theRussian Postal Service over the next three years, First DeputyCommunications Minister Alexander Kiselyov declared at a press conferencedevoted to the perspectives for the development of parcel trade in ourcountry. According to him, there are about 100 licensed postal operators inRussia now. Unlike western postal operators, the Russian Postal Service hasno monopoly in parcel services, where parcels up to 200-300 grams are sent.Kiselyov was quoted as saying that the volume of the Russian postal markethad increased 2.5 times in the first half of 2002, against 2001. And in2001, the growth was estimated as equal to 40 percent against 2000.The official added that the profitability of the Russian Postal Service was4 percent now. It is supposed to go up to 10 percent in the short run andthen to 15 percent..

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