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2008 May 20   13:05

Russia will launch biggest investment program in its history – Putin

Russian Prime Minister Vladimir Putin will sign  a  decree  approving  the  program  for  developing  Russia's transport  system  in 2010-2013, Putin said after the meeting addressing

the implementation  of  the federal program entitled "The Development of the Transport System in Russia."

It  will  be  the  biggest  investment program in Russia's history, Putin said.

The  total  investment  in  this  program  will  exceed 13 trillion rubles,  including  4.7  trillion  rubles from the federal budget, Putin said.

Putin  pointed  out  that  this  is  not  only  an indicator of "an increase in the country's capabilities, but also shows that big money is often followed by big losses," said Putin.

"We should minimize these losses," he said.

Under  the  new  federal  program  for  the development of Russia's transport  system  until  2010-2015, over 17,000 km of federal, regional and local  roads  and over 100 runways will be constructed and repaired, said Putin.  The total capacity of Russia's sea ports will go up to over

400 million tonnes of cargo a year.

There are plans to put into operation over 3,000 km of new railways and to virtually fully  remove sections with limited carrying capacity. "We should start  introducing  high-speed  passenger movement program," said Putin.

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