Russian Railways (RZD) plans to invest RUB 168 billion (EUR 2.3 bn) in the development of Baikal-Amur and Trans-Siberian railways next year, stated Alexander Misharin, First Vice-President of Russian Railways, at the 2nd Eastern Economic Forum in Vladivostok.
“For this project RUB 111 billion are invested this year and RUB 168 billion next year”, he said.
The total costs of the project reach RUB 542 billion and will be carried out as a public-private partnership, which will include the modernisation of 90 railway stations and almost 5000 km of railway lines. As a result of this investment, the transport capacity of the lines could be increased with 60 million tons of freight.
The development of Baikal-Amur and Trans-Siberian Railway is on RZD’s list of priority projects for 2017, according to Valentin Gapanovich, Senior Vice-President of Russian Railways, cited by Interfax.