Rail firm to get largest investment

Rail firm to get largest investment

ANKARA - Anatolia News Agency
Rail firm to get largest investment

The state will put 4.7 billion liras into the railway company next year.

State-owned enterprises will invest nearly 10.8 billion Turkish Liras next year, with Turkish State Railways (TCDD) spending almost half of the total amount, according to the General Investment and Financing Program published yesterday in the Official Gazette.

Another decision from the Cabinet also envisages reining in any extra spending of 28 state-owned enterprises that may occur in 2013.

The government will spend nearly 9.9 billion liras for 100 percent state-owned companies, while the remainder will be used for companies in which the government has a larger than 50 percent stake. Some 4.7 billion liras are allocated for TCDD investments.

The state-owned enterprises are estimated to produce a combined primary surplus of 179.7 million liras next year.

The government plans no additional spending for projects that are not included in the investment program for 2013.