A 49-year contract has been signed between Pyongyang and Russian Railways for the reconstruction of railway systems, and construction of a container terminal at the port of Rajin in North Korea.
The agreement follows talks in Pyongyang between Russian Railways, the Russian-Korean joint venture RasonKonTrans and railway transport company Tonhe from North Korea's Ministry of Railways.
The reconstruction of the railway line between Tumangan and Rajin and the construction of the Rajin terminal, is set to commence before the end of the year.
Russia and North Korea have also agreed to explore the possibility of reconstructing the railway line in North Korea between Rajin and Namyan on the border with China in order to organise the transit of freight between the two countries.
The agreement follows talks in Pyongyang between Russian Railways, the Russian-Korean joint venture RasonKonTrans and railway transport company Tonhe from North Korea's Ministry of Railways.
The reconstruction of the railway line between Tumangan and Rajin and the construction of the Rajin terminal, is set to commence before the end of the year.
Russia and North Korea have also agreed to explore the possibility of reconstructing the railway line in North Korea between Rajin and Namyan on the border with China in order to organise the transit of freight between the two countries.