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Upper house recommends state support to reconstruction of Trans-Siberian railroad

March 25, 2014, 19:52 UTC+3 MOSCOW
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MOSCOW, March 25. /ITAR-TASS/. The upper house of the Russian parliament has recommended to the Cabinet providing state support worth 260 billion rubles to the reconstruction of the Baikal-Amur (BAM) and Trans-Siberian railroads in the first stage of the reconstruction to be complete by 2017, which will require 562 billion rubles all in all for the transportation of additional 55 million tons of cargoes per year.

The development of the eastern territories will give a considerable impetus to the development of other regions and the country in general, including the development of the already existing and new natural deposits, iboosting the volume of industrial production and the construction industry, creation of more work places for the population and improvement of their welfare, said Senator Sergei Shatirov, Deputy Head of the Federation Council's committee on economic policies, at Tuesday' s meeting of the Federation Council.

Given growing coal production volumes in the Kuzbass region, the Russian government should ensure additional financing and develop mechanisms of encouraging the participation of private investors in the realization of infrastructural projects on the Eastern territory, Shatirov said.

The Federation Council also recommended that the Cabinet should look into a possibility of allocating funds from the National Welfare Fund for the realization of electric power engineering projects in the Far East and in the Baikal region, including the Baikal- Amur and Trans- Siberian railways which need more power supply, Shatirov said.

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