BAKU, Azerbaijan, Feb. 11
Freight turnover of NC Kazakhstan Temir Zholy JSC (KTZ) increased by 3.5 percent in 2020 compared to 2019 and amounted to over 231 billion ton-kilometers, Trend reports with reference to the company.
“Transit cargo turnover of the company amounted to more than 39 billion ton-kilometers, having risen by 19.4 percent year on year. At the same time, 876,000 containers of twenty-foot equivalent (TEU) were transported in transit traffic, which is 31.8 percent more compared to 2019,” said the company’s report.
The main financial achievement of the NC KTZ JSC group of companies is the positive financial result for 2020.
“With the support of Kazakhstan’s government and the Samruk-Kazyna Fund, a number of measures have been implemented to optimize the debt burden. The share of KTZ's liabilities in ‘hard’ currency has decreased since the beginning of 2019 from 57 percent to 34 percent at the end of 2020,” the report reads.
“Improving the financial stability of the group of companies, increasing control over working capital, introducing a centralized treasury, automating business processes during 2019-2020 ensured a decrease in accounts payable by 67 billion tenge or 48 percent. Overdue payables have been reduced to zero,” the company noted.
“The annual procurement plan was fulfilled by 100 percent. At the same time, the share of local content for work and services was 92 percent, for goods – 64 percent,” the report added.
In order to optimize the structure in 2020, 9 divisions were withdrawn from the NC KTZ JSC group according to privatization and divestiture programs.
Digital transformation projects aimed at increasing the economic efficiency of the services provided, improving business processes, digitalizing and automating the company's activities are being successfully implemented.
In 2021, the company will continue to address financial stability issues and work to improve the efficiency of operating activities.
Among the main tasks for 2021 are increasing traffic volumes and developing transit, modernizing infrastructure, increasing production efficiency, implementing transformation and digitalization programs, and others, the report added.