Russian Railways (RZD OJSC) plans to invest over RUR 670 billion into the projects of Oktyabrskaya Railway (OZD, branch of Russian Railways) within the framework of the Strategy for railway transport development till 2030, OZD reports. Long-term development of railway infrastructure in the North-West Federal District (till 2020) is being carried out according to the Master Plan for the development of railway information of the North-West region.
This Master Plan correlates with the development of maritime infrastructure in all ports of the North-West region so Russian Railways gives priority to the development of railway approaches. According to the estimations, investments into works aimed at capacity expansion till 2020 will make some RUR 400 billion.
The company’s program for 2008 envisages investment of RUR 52.2 billion including over RUR 25 billion to be invested into construction and upgrading of facilities of the Leningrad region as well as upgrading of Volkhovstroi railway junction and Volkhovstroi locomotive facility as well as construction of Luzhskaya and other stations.
At the meeting of State Council of the Russian Federation held in May 2007 in Murmansk it was emphasized that speedup of the country’s economic growth depends considerably on the development of railway industry.