Chinese partners confirm that they are highly interested in Belkomur implementation

A regular meeting has been held in the city of Irkutsk by the Transport Cooperation Subcommittee of the Committee responsible for preparing regular meetings between the Heads of the Russian and Chinese Governments.

Chinese partners confirm that they are highly interested in Belkomur implementation

A regular meeting has been held in the city of Irkutsk by the Transport Cooperation Subcommittee of the Committee responsible for preparing regular meetings between the Heads of the Russian and Chinese Governments.

The Russian delegation was headed by Maksim Sokolov, the Minister of Transport, with the Chinese one being chaired by Yan Chuantan, the PRC's Minister of Transport.

The week-long bilateral negotiations involving the Chinese parters resulted in Russian Minister of Transprot Maksim Sokolov and PRC Minister of Transport Yan Chuantan agreeing to support the Belkomur Project. The Belkomur Project is an integrated project devoted to the industrial and infrastructural development of the Russian North and Ural whose infrastructural section contemplates the construction of a new 1,161 km trunk railroad connecting Solikamsk (Perm), Suiktuivkar and Arkhangels and providing for RUB 251.6 billion of capital investments in prices of 2016.

The discussions resulted in a decision that Committee responsible for preparing regular meetings between the Heads of the Russian and Chinese Governments would consider the possibility of executing an intergovernmental cooperation memorandum in connection with the implementation of the Belkomur Project and its inclusion in the top priority projects pertaining to the Russian-Chinese economic cooperation.

The agreements reached between the two key federal departments of the two countries constitute an important step towards the execution of a concession agreement between the Russian Government and Poly Technologies, acting as the project's investor, in a short time.