Russian Railways to hold leasing tender
Thu, 01/11/2007 - 14:55 — admin
"Russian Railways is planning to lease rolling stock worth 26 billion rubles (more than $900 million) in 2006 and, to provide for the supplies, it will hold an open, 12-billion-ruble tender for leasing companies," Vice-President Galina Kraft said at a conference Wednesday.Kraft said leasing transactions allow the company to rapidly renovate its rolling stock. In the last three years, the company has acquired more than 13,500 cars and equipment worth 44 billion rubles (about $1.5 billion) through leasing. It also managed to bring down annual interest rates from 17% to 12.3% and advance payment rates dropped from 20% to 4.6% if leased from five to eight years.Source: RIA Novosti