Russian Railways plans to invest in development of near-dock and off-dock railway access to the port of Ust-Luga at least RUB 50 billion (nearly $1.5 bn) until 2016, an official of the state-owned rail company said Thursday.
Senior VP of RZD Valery Reshetnikov, speaking at the Russia and Baltics Port Expansion Summit in St. Petersburg, said the company predicts manifold growth in rail transport. The forecast is based on volumes figures from previous years: there were 11 million tonnes of loads in 2010 moved on the railway network, 22 million tonnes in 2011 and 31 million tonnes in 2012.
The RZD said at least 40 million tonnes of cargo are expected to be transported this year on the railway access to the port of Ust -Luga.