Russian Railways to Get Freight Guarantees, Kommersant Says

OAO Russian Railways is to receive guarantees from 25 large Russian industrial companies that they will pay for freight capacity as the operator of the world’s largest rail network needs to invest 900 billion rubles ($28.8 billion) in infrastructure by 2020, Kommersant reported.

The guarantees are intended to help Russian Railways ensure that it will get a return on its infrastructure investments and will be announced today by Prime Minister Vladimir Putin today, the Moscow-based newspaper said, citing unnamed officials in the government and companies.

The deal will be signed by companies in the coal, metals, chemicals and oil industries, Kommersant said.