The management board of Russian Railways has approved the procedural legal scheme and financial model of the project of consolidating the holding's office real property at the Rizhsky freight yard in Moscow, the company informed.
The project envisages the creation of a single multi-purpose complex, including public and business facilities, as well as a residential quarter. The development site is near the Rizhsky railway terminal of the Russian capital, its area exceeds 20 ha. The space required for relocation of employees of Russian Railways and controlled companies will be about 218,000 square meters, with the total area of the new construction projects to exceed 700,000 square meters.
Russian Railways is one of the world's top three railway operators. The company started operation on October 1, 2003. The founder and sole shareholder of JSC Russian Railways is the Russian Federation. The Government of Russia exercises the shareholder's powers on behalf of the Russian Federation. The company's assets were formed by contributing assets of 987 state-owned federal railway transport organizations to the authorized capital of JSC Russian Railways at book value. The company's authorized capital is RUB 2,315,846,775,000 and consists of 2,315,846,775 shares.
