Russia's Ministry of Railroads to Pay USD 281 Million to Lease Rolling Stock in 2003

Russia's Ministry of Railroads is beginning to carry out its rolling stock leasing programme. According to Gennady Fadeyev, the Minister of railroads, the programme will cost USD 281.25 million in 2003. The ministry acts in partnership with several Russian banks, the names of which, with the exception of Vneshtorgbank, remain undisclosed.

In 2003, the Ministry of Railroads intends to lease 10 diesel locomotives from the Kolomna Locomotive Plant, 700 passenger from the Tver Railcar Plant and 5,000 to 7,000 cargo railcars elsewhere.

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