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Business news, 14.11.2003 14:10

USD 535 million to be spent on railways to Ust-Luga port

Russian Railways Russian Railways invest USD 535 million in modernizing the railway line to the port of Ust-Luga in the Leningrad Region. The modernization project has been drawn up by Lengiprotrans. Work is expected to begin in 2004 and be completed by 2007.

The project will mean that by 2005 it will be possible to transport up to 8 million tonnes of goods from the Ust-Luga port every year. Once the port reaches full capacity at 35 million tonnes of goods a year it will be possible to transport up to 15 million tonnes a year by rail.

The October Railways are planning to start running an electric train between Saint Petersburg and Kingisepp which will then be extended to include Ust Luga. The port of Ust-Luga is being built in the Gulf of Finland. The port will be able to transfer 35 million tonnes of goods every year when it is complete and it will specialize in transporting coal and timber. The coal terminal was opened in December 2001. The offshore terminal is also now ready to be opened.

News source: www.rosbaltnews.com

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