MOSCOW, August 19. /TASS/. The Russian government will provide financing for the upgrade of the Baikal-Amur mainline (BAM) and Trans-Siberian railway line at the expense of the National Wealth Fund in the amount of up to 100 bln rubles ($1.7 bln) in 2017 and up to 50 bln rubles ($850 mln) in 2018.
"Taking into account earlier instructions from the President of the Russian Federation to provide financing for an investment project on the upgrade of the Baikal-Amur and Trans-Siberian railway lines aimed at development of throughput and carrying capacities using the money from the National Welfare Fund, within the limits envisaged for the given purposes in 2017-2019, namely 100 billion rubles in 2017 and up to 50 billion rubles in 2018," according to the document published on the Kremlin's website.
A report on the implementation of this order should be submitted before November 1, 2017.
President Vladimir Putin instructed the government to finance the upgrade of the two railway lines at the meeting on the implementation of major investment projects in the Far East, held on August 3.