Belkomur railway finds investor
The Vnesheconombank intends to help fund the construction of the Belkomur railway, a link between the Barents Sea and the Urals.
Vneshecnombank, also called the Russian Development Bank, has signed a MOU with the Belkomur company on the development of the grand railway project linking Arkhangelsk city with the Ural city of Perm.
After several years of deadlock, the Belkomur project – a joint initiative of the regions Arkhangelsk, Komi and Perm – now takes an important step forward.
The parts will now establish a joint working group which is to attract private investors, both Russian and foreign, to the project, a press release from the Vneshecnombank informs.
Read also: Multi-billion investments in the Barents Region
The Belkomur railway will be 1245 km long and have a price tag of more than 400 billion RUB.
