June 3, 2013. Director-General of Uralvagonzavod Scientific & Production Corporation Oleg Sienko feels that the way Russian Railways will be developing is going to determine the success of many economic sectors. He voiced his opinion in Sochi, during the 8th International Railway Business Forum on Strategic Partnership 1520.

The corporation’s press service reports that on the first day of the forum, Sienko took part in an expert round table discussion dedicated to the public’s benefits of privatization. The discussion mainly had to do with the vital issue of privatizing Russian Railways.

Uralvagonzavod Corporation’s DG says that the unrestrained increase in the railway freight forwarding fares is leading the industry into a dead-end.

‘I truly believe that Russian Railways’ infrastructure needs enormous investments. If we fail to do this today we will fall behind tomorrow, and if we don’t do this tomorrow, we’ll be late for good. We need to involve retirement funds, the National Welfare Fund, and go through with public offers,’ he said.