Kyzyl-Kuragino Railway Project Approved by Investment Commission, But with Doubts.

1 October 2006 | 5074 views | 0 comments

The Kuban-2006 International Economic Forum has opened in Sochi, promoted by Russia as a future Olympic games capital. Within its framework a selection of development projects to be financed from the Investment Fund has been made by the Investment Commission. Yesterday the forum made a decision to recommend to the Governmental Commission two out of the three projects under discussion. Among those recommended are the Kyzyl-Kuragino railway in the Republic of Tuva and a paid detour automobile route for Krasnodar-Abinsk- Kabardinka. But accirding to Kirill Androsov, the deputy minister of economic development and trade, Kyzyl-Kuragino railway project still is doubtful to receive governmental financing and will be put 'in a queue' as the project calls for huge resources (almost three billion dollars) within the small budget efficiency.

Russian Railways company which firstly was meant to be a co-investor in the Tuvan project then thought better of it. Androsov says that the reason for this change is not clear.

The Kyzyl-Kuragino railway is actively lobbied by those close to Russian oligarch Sergei Pugachev (Tuvan senator) who have purchased the rights to develop the Elegest coal mine.

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