Rosmorport says federal funding of VTMS is frozen

Federal allocations for creation, maintenance and modernization of Vessel Tracking Management Systems in Russian seaports have been frozen, IAA PortNews reporter cites Andrei Lavrishchev, Executive Director of Federal Marine and River Transport Agency (Rosmorrechflot), as saying at the meeting of the Agency’s expert council. 

According to him, federal budget earlier allocated about RUB 1-1.5 bln per year. VTMS will now be fully financed by the companies.

Besides, financing of new port projects has been frozen except for those which had already been started.

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