In a major housecleaning, Ukrzaliznytsia plans to sell for scrap one third of its open freight cars – about 16,000 wagons,

In a major housecleaning, Ukrzaliznytsia plans to sell for scrap one third of its open freight cars – about 16,000 wagons, Andrei Ryazantsev, the state railroad’s finance director, tells reporters in Kyiv. This sale of about 400,000 tons of steel could yield $50 million. The money is to pay for new cars and locomotives. In an analysis of the railroad’s numbers, Dragon Capital concludes that the railroad may actually sell 23,000 cars, about one half of its open car fleet. Ryazantsev said the first lot of cars up for public auction are “closer to the state of scrap than to the state of cars.”