Putin instructed to allocate 150 billion for modernization of BAM and Transsib


RIA Novosti

Russian President Vladimir Putin instructed the government to provide funding for the modernization of the Baikal-Amur and TRANS-Siberian mainlines. This was reported on the Kremlin website.

Following the meeting on the implementation of major investment projects in the far East, the head of state ordered to allocate for these purposes from the funds of the national welfare Fund 100 billion rubles in 2017, and to 50 billion in 2018.

The report on this assignment should be submitted before November 1, 2017, after which the responsible person will be required to report every six months.

On July 13, the Deputy head of the Department of rail transport research, Institute of natural monopolies research (IPEM) Alexander Polikarpov said that the financing of projects of reconstruction of BAM and Transsib set at 562,2 billion rubles, of which 260.2 billion roubles allocates the state budget, and 302 billion rubles, Russian Railways.

On 7 August, the Railways has completed construction and installation works on the new railway line bypassing Ukraine zhuravka — Millerovo. Final commissioning and opening of passenger trains on the line is planned for the end of autumn 2017.