Putin welcomes “good dynamics” at Russian Railways

MOSCOW. President Vladimir Putin welcomed the “good dynamics” in the development of Russian Railways as he met with its head, Vladimir Yakunin, on Saturday.

Yakunin told the president the company had “overcome complex trends and reached parameters that will allow us to exceed the planned revenue targets”.

In his words, “The basis for financial performance is effective operations… For the first time in 12 years, 3.790 million tonnes of cargoes are loaded daily.”

He noted, “The results were reached without any major increase in the rolling stock and mainly by enhancing efficiency and using new technologies.”

Russian Railways also placed bonds in an IPO abroad at 4.825 percent a year. “This is the best placement (of securities) among Russian companies,” Yakunin said.

He believes that “investment companies have faith” in Russian Railways.

Putin agreed that the company is showing “good dynamics”, ITAR-TASS reported.