Ukrzaliznytsya estimates need for 34.5 ths gondolas in 2011-2015

Ukrzaliznytsya, Ukraine’s state railway monopoly estimated it needs 34.5 ths gondola cars in 2011-2015, 1.3 ths in 2011 alone, Interfax reported yesterday, citing an Ukrzaliznytsya press release. Vitaly Gorovoy: Ukrzaliznytsya is likely to give preference in order placement to Ukrainian railcar manufacturers, including Kryukiv Wagon (UX: KVBZ UK), Stakhaniv Wagon (UX: SVGZ UK) or Mariupol Heavy Machinery (UX: MZVM UK). However, as Ukrzaliznytsya needs approximately UAH 23 bln, at current prices, according to our estimates, to finance the purchase and sources for those funds are doubtful, we do not see any market impact from the announcement.