The project which envisages the construction of interregional transport corridor between the European North and the East Siberian Region of the Russian Federation has been approved during the meeting in Salekhard chaired by the Prime-Minister of the Russian Federation Vladimir Putin on the regional policy and integrated social and economic development of the Yamal-Nenets Autonomous Area. It is meant to be implemented before 2030 inclusive. Total capital investments into the project are estimated at 300 billion rubles with the payback period in three years after the launch of the new railway “Transpolar Transsib” with the overall length of over 3000 km. The main sources of financing will be investment part of the rail tariffs, port dues (up to 55%), funds of the federal and local budgets and investments of five largest Russian companies. The project has already been included into the “Concept of Social and Economic Development of Russia before 2020”. Total macroeconomic effect of the project in 2007-2050 is estimated at 8 trillion rubles. (USD1 = RUB29.1749)

• Source: Rossiyskaya Gazeta