ON THE NECESSITY OF INDEXATION OF TARIFFS

Abstract

Russian railways have limited capacity at some sections which are most used for freight carriage. Balanced development of rail structures is really required for maintenance of appropriate level of transport security of some regions. Implementation of investment program of JSC Russian Railways is deemed to change the situation. But large investment efforts are complicated by relatively low profitability, high level of capital output ratio, prolonged period of payback of structures. Taking into account that the capacity of debt burden for holding company of Russian Railways is limited, internal sources of funding could become a probable variant of supplementary consolidation of resources for implementation of investment projects. To achieve that goal the authors suggest and substantiate introducing of inv estment component within public tariffs for rail carriage.