Governor sees Russias Belkomur railway launched in 2017

15/02/11  
The Belkomur railway line running across the European part of Russia is expected to be launched in 2017, the Komi RepublicŐs Governor Vyacheslav Gaizer said, the press service of the regional government reported Tuesday.

It would be possible to launch the railway line in 2017 after the current funding model has been optimized by attracting funds from private investors, Gaizer said at a meeting with the presidential envoy to the Northwest Federal District Ilya Klebanov and Vnesheconombank’s (VEB) CEO Vladimir Dmitriyev.

Dmitriyev supported the proposal, as it is in line with the bank’s development strategy, the press service also reported.

VEB was selected as financial adviser for the project in 2009.

The Belkomur project envisages the construction of a 1,252-kilometer railroad between the city of Arkhangelsk and the city of Solikamsk in the Perm Region, via the Komi Republic. Total investments in the project are projected at 598 billion rubles. The Belkomur project was included in Russian railroad monopoly Russian Railways’s development strategy until 2030.

(29.2583 rubles - U.S. $1)

Prime-TASS, February 15, 2011