Russian Railways to invest RUR 9.6 bln in Oil for China project in 2009
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Russian Railways (RZD) (RTS: RZHD) plans to invest 9.575 billion rubles in 2009 to implement the Oil for China project, Trans-Baikal Railways, and RZD subsidiary, said according to Interfax.
RZD plans to ship 8.8 million tonnes of oil to China in 2008. Improvements are needed in light of forecast increases in oil transportation volumes.
Investment in the project this year will amount to 10.693 billion rubles.
Work on the first phase involves completing reconstruction of five stations on the Karymskaya-Zabaikalsk line, laying 12.82 kilometers of yard track and 47 switches, modernization of signaling, shunting and centralization facilities and communications at 12 sidings and eight stations.
In the second phase, the Karymskaya-Borzya line will be electrified. This will involve construction of five traction substations and other electrical infrastructure.
RZD's investment in development of Trans-Baikal Railways will total 23.433 billion rubles in 2008.