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Vnesheconombank Intends to Participate in Preparation for Implementing a Project Aimed at Building Archangel-Syktyvkar-Perm (Solikamsk) Trunk Railway

16 august 2011 года
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State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and Open Joint Stock Interregional Company Belkomur entered into a Memorandum of Intent on Implementing a Project to Build a Trunk Railway Archangel-Syktyvkar-Perm (Solikamsk).

On behalf of Vnesheconombank the Memorandum was signed by Management Board Member, Vnesheconombank Deputy Chairman Anatoly Ballo and on behalf of JSC Belkomur –by its Director General Elman Khudazarov.

Under the Memorandum the parties are to prepare reasons and conditions for implementing the project on public private partnership principles in line with a scheme for concluding a concession agreement and take appropriate measures to engage participants in implementing the project including Russian and/or foreign companies to fund the project both at a stage of preparing the project for a tender and at a later stage. Vnesheconombank is also to explore the possibility for its own participation in funding the project’s implementation once a concessioner has been identified.

A working group has been set up to coordinate the parties’ interaction.

The project (Belkomur) to build a trunk railway Archangel-Syktyvkar-Perm (Solikamsk) under the Comprehensive Program of Industrial and Infrastructure Development of the Komi Republic, the Perm Territory and the Archangel region provides for building a new trunk railway with a total length of 1155 km, with new construction being 715 km and the rest accounting for reconstruction and upgrading of the existing railway lines. Belkomur is comprised of two sections: the Northern section runs through the territory of the Archangel region and the Komi Republic, the Southern section runs from Syktyvkar through the territory of the Komi Republic and the Perm Territory. This new trunk railway is of strategic importance for Russia as it will directly connect the Urals and the Komi Republic with ice-free ports in Archangel, Murmansk and North Europe. In the future, the new railway will provide the shortest way to North Europe and regions of Siberia, Kazakhstan and Central Asia creating favorable conditions for cargo transit through Russia.

Engineering Company OJSC Interregional Company Belkomur was set up by the decision of Russia’s three constituent entities – the Komi Republic, the Archangel region and the Perm Territory to implement this project.

 

Press Office of Vnesheconombank
Contact person: Ekaterina Karasina
Phone: +7 (495) 608-46-93, Fax: +7 (499) 975-21-34
E-mail: press@veb.ru 

 
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