The study substantiates the key role of railway transport in ensuring sustainable growth of the transport system and encouraging the processes of Ukraine’s economic revival. The current state and development trends of domestic railway transport have been analysed and allowed defining its crisis situation and limited investment and innovation potential for encouraging progressive changes in the railway industry. The main provisions and features of the formation and implementation of investment and innovation policy in railway transport are revealed. A method for assessing the priority of implementation of investment and innovation projects in railway transport has been proposed. There has been outlined an example of the application peculiarities of the method of determining the price, which will provide a realistic assessment of the investment opportunities of railway transport for the purchase of a certain type of rolling stock and ground the management position on the choice of its manufacturer.

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