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Russia to Grant 88.8 M USD to Freight Car and Loco Customers

The Russian Ministry for Economic Development proposes granting 5.4 B RUB (88.8 M USD) of subsidies to customers buying innovative freight cars and locomotives, the Vedomosti reports. The Ministry sent a respective document to the Russian Government.

A rolling stock customer is to get a subsidy of 300 K RUB (5,000 USD) per car; it covers approximately 10% of the freight car price. The locomotive costs 30-80 M RUB (0.5 - 1.3 M USD), so the subsidy will cover a smaller portion of the loco price.

In 2016 freight car customers received in total of 10 B RUB (164 M USD) of subsidies and compensations for freight car acquisition. Locomotive customers have not received any compensation or subsidy so far.

Russia manufactured 29,900 freight cars in 2015. The expectation for 2016 is 40,000 freight cars.

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