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Putin to hold meeting on Trans-Siberian Railway modernisation

The government will use assets from the National Welfare Fund in the amount of 450 billion roubles to finance the project on a repayable basis

Photo ITAR-TASS

Photo ITAR-TASS

MOSCOW, July 26 (Itar-Tass) - President Vladimir Putin will hold a meeting on Friday, July 26, that will focus on the modernisation of the Trans-Siberian Railway, the world’s longest railroad built more than 110 years ago.

Its thorough modernisation is one of the three ambitious projects along with the construction of a high-speed railroad from Moscow to Kazan and the central ring road in the Moscow region, which were proposed by Putin at the St. Petersburg International Economic Forum.

The projects aim to develop transport infrastructure in the country as one of the key factors of economic development. The government will use assets from the National Welfare Fund in the amount of 450 billion roubles to finance the project on a repayable basis.

Attending the meeting will be senior officials from the presidential administration, the government, relevant ministries, officials from major transport, energy and extractive companies, and development institutions.

The Trans-Siberian Railway is the world’s longest railroad of about 9,300 kilometres. It links Central Russia with Siberia and Far East, running through 87 regions.

It was partly modernised in 1999-2000. Now the railroad is operating at the end of its capacity and can transport 100 million tonnes of cargoes annually.

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