Ukrzaliznytsya said that it requires an estimated USD 1.98 bln to modernize its fleet by 2011. In a press release on Friday, Ukraine’s railway monopoly said it plans to purchase 200 electric locomotives, 15 diesel passenger locomotives, 88 electric trains, 15 diesel trains and 18 rail buses in the next four years. An Ukrzaliznytsya official said that the company’s fleet of electric freight trains is 54% worn out, passenger trains by 71%, diesel engines by 42% and electric trains by 43% and diesel trains by 46%. Inna Perepelytsya: We see the primary beneficiary of new orders being Luhanskteplovoz (LTPL: U/R), but also see sales opportunties for other wagon makers including Kryukiv Wagon (KVBZ: N/R), Azovzahalmash (AZGM: BUY), Mariupol Heavy Machinery (MZVM: BUY), Dniprovahonmash (DNVM: N/R), and Stakhaniv Wagon (SVGZ: HOLD).