Russia to raise rail transportation tariffs

The Russian government has decided to index railage tariffs by 12% in 2003, Gennady Fadeyev, the Russian Minister of Railways, informed journalists during a break in a governmental session, which considered the issue of tariffs on natural monopolies' services in 2003.

Rail freightage rates will rise 12% from January 1st, 2003, and passenger tariffs - from January 15th, Fadeyev said.

The government also approved an investment programme for developing the branch in 2003 to the tune of 126 bln roubles (1 euro = about 32 roubles), the minister added.