17 June 2004 02:43
EBRD ready to assign $100 million to build Belkomur railroad
SYKTYVKAR. June 17 (Interfax-Northwest) - The European Bank for Reconstruction and Development (EBRD) is ready to
assign $100 million for the construction of a Belkomur railroad line, first deputy head of the Komi Republic Nikolai
Levitsky told Lorentz Anderson, chairman of the Regional Council of the Barents Euro-Arctic Region (BEAR) and Governor
of the Swedish Vasterbotten province, on Thursday.
Levitsky presented the Belkomur project at the 8th international economic forum in St. Petersburg. He met with
Russian Transport Minister Igor Levitin on Wednesday to discuss the project financing. "We hope that the Russian
government will put the project on the federal financing list in 2005," he said.
The EBRD is ready to finance 40% of the project (about $100 million). "Negotiations are underway, and a final
decision will be made by the end of this year," Levitsky said.
About 30% of the costs may be covered by the federal budget, and another 30% may come from private companies,
including Komi Aluminum, coal mining and oil industries of the region. The total cost of the project is estimated at
$1.5 billion based on last year's prices.
A railroad line between Arkhangelsk, Syktyvkar, Kudymkar and Perm has been under construction since 1996. The line
will shorten the route from Northern Europe to Central Asia by 800 kilometers. [RU EUROPE EEU EMRG BNK RRL] te tj
[Interfax] |
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