Russian government allocates 8.2 billion roubles for development of Mezhdurechensk-Tayshet railway section

Russian Prime Minister Dmitry Medvedev signed a package of documents to increase the authorized capital of Russian Railways by 8.2 billion roubles. This money will be used to develop the Mezhdurechensk-Tayshet section of the Krasnoyarsk railway. Being a part of the Yenisey Siberia Comprehensive Investment Program, this project is aimed at developing a transport corridor from the Krasnoyarsk Territory, the Republic of Khakassia, and Kemerovo Region to the East of Russia. 

The documents were developed by the Ministry of Transport of the Russian Federation. The funds for these purposes have been budgeted on the federal level. Representatives of the Government noted that the decision would help to increase the carriage and traffic capacity of the railway network and ensure uninterrupted freight and passenger transportation. The additional issue of the capital will take place in the form of ordinary shares to be purchased by the sole shareholder of the company – the state.

The Mezhdurechensk-Tayshet section is used to transport coal from Kemerovo Region, Khakassia and the Krasnoyarsk Territory to the ports of the Far East. Russian Railways company has been engaged in the section’s modernisation since 2013. Earlier in December, the head of Krasnoyarsk Railway Vadim Vladimirov stated that Russian Railways would invest 110 billion roubles in the comprehensive development of that railway in 2020-2024. The increase of carriage capacity of the Russian Railways’ eastern infrastructure up to 210 million tons by 2025 is one of the targets of the eastern railways development program, stage two.

According to Director General of the Corporation of Yenisey Siberia Development Sergei Ladyzhenko, this federal decision enables a good rate of the railway modernization and a boost of industrial development. “Mezhdurechensk-Tayshet is one of the most important investment projects for the railway infrastructure development. The increase of the traffic capacity will ensure an uninterrupted export of extraction and processing products from the southern regions of Yenisey Siberia,” commented Sergey Ladyzhenko.