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Investment program of Russian Railways to be above $13.7 bln in 2024 — PM

The upgrade of the Eastern Range, specifically, the Baikal-Amur and Trans-Siberian Railways being parts of it, will continue, Mikhail Mishustin noted

MOSCOW, November 2. /TASS/. The investment program of Russian Railways for the next year will be above 1.27 trillion rubles ($13.7 bln), Prime Minister Mikhail Mishustin said at the Cabinet meeting.

"We will discuss today key parameters of the financial plan and the investment program of the company for the next year. Investments will total over 1.27 trillion rubles. Funds will be spent to solve large-scale tasks - about a half of them will be directed to create mainline infrastructure," the Prime Minister said.

The upgrade of the Eastern Range, specifically, the Baikal-Amur and Trans-Siberian Railways being parts of it, will continue, Mishustin noted. Plans also comprise development of railway approaches to seaports of the Azov-Black Sea and the Northwestern Basins.

One third of funding is provided for the upgrade and repair of railway tracks and bridges, tunnels, stations and junctions, the rollout of digital technologies and greater traffic safety. "The rolling stock fleet will be replenished to support freight transportation and create comfortable conditions for passengers at suburban destinations. It is anticipated to purchase over 500 modern locomotives and 280 electric train railcars," Mishustin added.

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Mikhail Mishustin

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