Investment Management
As an integral component of the Development Strategy, the Company’s Investment Policy establishes investment priorities, structure, criteria, areas and sources.
The Investment Programme of JSC FPC for 2023–2025 was approved by the decision of the Board of Directors (Minutes No. 15 dated 27 March 2023).
Given that the rolling stock for FPC is the main means of production, it is renewed annually to ensure uninterrupted production activities.
Investment ranking
- Long‑term projects
- Replacement of retired fixed assets with financial effect
- Cost‑effective projects
- Replacement of retired fixed assets with technological effect
- Technological and social projects
Each project is ranked from 0 to 100. The higher the score, the higher priority is given to the project within the Investment Programme.
Investment structure
The bulk of FPC’s investments (RUB 48.9 billion, or 93.5%) in 2023 was spent on the renovation of passenger rolling stock, including purchase of new passenger carriages (RUB 38.4 billion) and upgrade of passenger rolling stock (RUB 10.5 billion).
RUB 3.4 billion worth of investments, or 6.5%, was used to upgrade depot facilities and promote IT projects and other initiatives.
| Indicator | 2021 | 2022 | 2023 | |
|---|---|---|---|---|
| Rolling stock acquisition | 26.2 | 30.5 | 38.4 | 7.9 |
| Rolling stock upgrades | 7.7 | 8.7 | 10.5 | 1.8 |
| Depot upgrades | 0.6 | 0.7 | 1.7 | 1.0 |
| IT promotion | 0.2 | 0.6 | 1.4 | 0.8 |
| Other projects | 0.1 | 0.1 | 0.3 | 0.2 |
| Total | 34.8 | 40.6 | 52.3 | 11.7 |
Passenger rolling stock replacement
RUB 38.4 billion – for acquisition of new passenger carriages, including:
- 373 single‑decker carriages of 2019 model
- 54 single‑decker carriages of 2018 model
- 104 double‑deck carriages of 2018 model
RUB 10.5 billion – for passenger rolling stock upgrades.
The main share of these investments (RUB 9.5 billion, or 90.5%) is allocated for overhaul reconditioning with service life extension of 23 carriages and KR‑2 overhaul of 698 carriages.
The new rolling stock was purchased to upgrade the fleet and replace retired carriages.
The Company’s carriage procurement programme prioritises rolling stock acquisition to replace retired carriages and upgrade profit‑making trains. In 2023, 427 single‑decker carriages worth RUB 25.3 billion were purchased for this purpose.
In addition, 104 double‑deck carriages worth RUB 13.1 billion were purchased for promising destinations with high passenger service demand, to cover schedule train service on the Moscow – Adler, Moscow – Cheboksary routes.
In addition, 104 double‑deck carriages worth RUB 13.1 billion were purchased for promising destinations with high passenger service demand, to cover schedule train service on the Moscow – Adler, Moscow – Cheboksary routes.
Depot upgrades
Investments in depot facilities were primarily used to:
- To renovate existing production facilities – RUB 1.3 billion
- To purchase equipment to ensure uninterrupted depot operations – RUB 0.4 billion
IT promotion
The main investment areas:
- Establishment of a security system for critical information infrastructure facilities of JSC FPC
- Development and import substitution of IT infrastructure
- Delivery of equipment for broadcasting audio recordings and recording of official conversations over the radio train communication and radio broadcasting network
- Supply of personal computers, as well as networking, server and peripheral equipment
Other projects
Key areas of investment: acquisition of transport safety equipment, development of design documentation, etc.
Priority investment areas
Customer‑focused investment
The Company spent- reduction of transit time and higher transport safety and better passenger experience (purchase of 531 new highly efficient passenger carriages featuring improved performance and passenger comfort ) — RUB 38.4 billion
- Overhaul reconditioning of 23 passenger carriages – RUB 1.1 billion
- A total of RUB 1.4 billion were spent on the information technology innovations
Upgraded of fixed assets
To maintain its existing carriage repair and maintenance facilities, JSC FPC invested RUB 1.3 billion in rehabilitation and upgrades of its fixed assets in 2023.
Investment in safety and security
A total of- RUB 0.4 billion – to replace retired rolling stock
- RUB 0.1 billion – to install new frames, bolsters and 1,520-mm gauge bogies during scheduled carriage repairs
Sources of financing
Sources of financing for the Investment Programme in 2023: