Russian Railways to invest in renovation

Russian Railways intends to allocate some RUB 10.5bn (approx. USD 427m) as investments in the project for improving oil transfer from Russia to China, the railway company's press office reported today according to RBC. The project provides for the reconstruction of a section of the Transbaikal railway in order to increase the railway's capacity. Most of the reconstruction activities under the project are to be completed in 2008.