JSC Russian Railways (JSC RZhD) is a Russian vertically integrated company, both managing infrastructure and operating freight and passenger train services. In 2012 it became one of the three largest transport companies in the world. The company was established on September 18, 2003, when a decree was passed to separate the railways from the Russian Ministry of the Means of Communication (MPS) (1992-2004, dissolved).

According to the 2011 JSC RZD Annual Report: the company plans to invest over 2.2 trillion rubles (about 70 billion dollars) until 2020 to upgrade and expand the network infrastructure (without high-speed and high-speed projects). Seven priority infrastructure development projects were allocated. These are approaches to the ports of the South of Russia, an approach to the ports of the North-West Russia, infrastructure in Western Siberia, and north of the Urals Federal District, Trans-Siberian Railway, Baikal-Amur Mainline, Mezhdurechensk, Abakan – Taishet station, the Moscow railway hub. The company recognizes that it has not sufficient funding for the major projects planned, and the cost of borrowing in the bond market does not allow to implement infrastructure projects with positive financial results and return on investment.

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