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00:04
Ukrzaliznytsia Planning International Audit Of Its Enterprises In 2007

The State Railway Transport Administration (Ukrzaliznytsia) plans to commission international audits of its enterprises in 2007.

Ukrzaliznytsia's Director-General Volodymyr Kozak announced this at a press conference.

«We should conduct an international audit ... of our enterprises to ensure that we start receiving investments from the World Bank, the EBRD, and other foreign banks as early as next year,» Kozak said.

He also said that several European financial institutions are presently interested in investing in Ukrainian railways.

The audit is a step towards implementation of investment projects by Ukrzaliznytsia.

An audit company will be selected via competition.

Ukrzaliznytsia made capital investments totaling UAH 4,353.3 million (its own funds and funds from other sources) in 2006, including the UAH 1,667.6 million (its own funds, loans from local banks, and leased equipment) it spent on upgrading its rolling stock.

As Ukrainian News earlier reported, Ukrzaliznytsia unites six railroads and monopolizes rail transport in Ukraine.

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