Source Pravda.Ru

North Caucasian Railway to get $158m in investments

The Russian Railroad Ministry is planning to invest some 5bn rubles (about $158m) in the development of the North Caucasian Railroad in the next three years, Railroad Minister Gennady Fadeyev declared during his working visit to the North Caucasus. The Board of the ministry has approved the amount of capital investments in the program on developing the railroad. This sum does not include the North Caucasian Railroad's own resources, he added.

Investments will first be directed to the development of port railway infrastructure in the Southern Federal District, including Novorossisk and Tuapse. Moreover, it is planned to repair the Tuapse-Adler railroad. The implementation of these projects will increase passenger traffic in this region. The ministry is planning to attract investors to these large projects, Fadeyev stressed.