Russian Rail May Boost Debt 30% to 400 billion Rubles in 2012

OAO Russian Railways plans to boost debt more than 30 percent to 400 billion rubles next year, Transport Minister Igor Levitin told reporters in Moscow, citing the company’s budget, which was approved by the government today.

Total debt may rise to about 500 billion rubles by 2014, he said. Russia may provide additional funding to Russian Railways via infrastructure bonds secured by state guarantees, Levitin said.

The government hasn’t yet decided whether Russian Railways should sell a 25 percent or 50 percent stake in OAO Transcontainer, he said.

To contact the reporter on this story: Ilya Khrennikov in Moscow at ikhrennikov@bloomberg.net

To contact the editor responsible for this story: Alex Nicholson at anicholson6@bloomberg.net

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