vlad.tribnet.com / Issue #537 / Business / Reading article...

Russian Railways Company plans to invest 114.2 billion rubles into the development of the Trans Siberian railroad in 2006-2008 according to the federal program aiming to update the transportation system of Russia by the year 2010.

The overall investment for the TransSiberian railroad will make 241.5 billion rubles, the press service for the Far Eastern branch of Russian Railways Co. reported.

Experts estimate the trade turnover between Europe and Asia to be $600 billion annually, only 1 percent of cargo is transported via the territory of Russia. 98 percent of transportation is performed by sea.

The TransSiberian railroad stretching for 9,000 kilometers across Russia from the pacific port of Vladivostok to Moscow, can become an alternative for sea transportation.

Vladimir Yakunin, president of the Russian Railways Co., announced in mid September that the railway specialists of Russia, Germany, and China, recently agreed on joint development of the container transportation via the TransSib from China to Europe, and back. “In the nearest time a working group will be organized responsible for the plan of joint actions in this direction,” Yakunin revealed, Prima Media news agency reported.