Kyzyl – Kuragino Railway Line Excluded from the List of State Investment Projects

The RF Government has made final decision to withdraw the Kyzyl – Kuragino Railway Line from the list of state investment projects, said Igor Slyunyaev, Minister of the RF Regional Development, at his working meeting with Viktor Tolokonsky, the RF President Plenipotentiary in the Northern Federal District.

In the words of Mr Slyunyaev, the project investor Yenisei Industrial Company CJSC failed to fulfill its obligations about the railway line construction and the coal mining complex development. To prevent non-efficient spending of public funds, the state government decided to exclude the project from the list of investment projects into which money is invested from the RF Investment Fund.

According to the press-service of the Ministry of Regional Development, the Ministry together with the Transport Ministry, the Ministry of Finance, and the Ministry of Economic Development are developing a new scheme to carry out this project – by means of attracting private investment with sovereign-backed guarantees. The public funds will be transferred to the capital stock of RZD to extend a section of the Mezhdurechensk – Taishet railway line.

The total cost of construction of the Kyzyl – Kuragino railway line and development of the Elegestskoye coal deposit is RUB 156.4 billion. Of that, RUB 46.1 billion was to be invested from the RF Investment Fund. The railway was supposed to become the main transport line for the development of the mineral and raw material base of the Tyva Republic.

Source : RZD-Partner

We, Net Translation Services Limited, are in your disposal with our experienced translator team of 35 persons specialized in Rail Systems Terminology in English, German, Russian, French languages Please visit website: Nettercume.com.tr for our references.

74 / 1.891