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Uralkali Allocating 1 Billion Roubles For Railway Construction

Uralkali Allocating 1 Billion Roubles For Railway Construction

16.03.2010 — News


The Uralkali JSC Board of Directors made a decision on 12 March 2010 to voluntarily allocate a further 1 billion roubles to JSC Russian Railways as reimbursement for the construction of the 53 kilometre long Yayva-Solikamsk rail line. A year ago the company took on voluntarily obligations to allocate 5 billion roubles to compensate the funding deficit for the construction of this line by transferring the money to the federal budget by the end of 2009.

In December last year the Yayva-Solikamsk line has been commissioned and passenger transportation began a month later. At the moment crossover construction works are still in progress at the location, scheduled to be completed in 2010.

The Head of the JSC Russian Railways Vladimir Yakunin and Yuri Trutnev, the Minister of Natural Resources, have reported the successful completion of the construction to the Russian Prime Minister Vladimir Putin who praised the efforts of the project participants. At the same time JSC Russian Railways has formulated the need for further 3 billion roubles for the funding of the construction of the line.

The Uralkali's press centre informed RusBusinessNews that the decision to allocate the further 1 billion roubles has been made taking into account the agreements reached in negotiations with JSC Russian Railways.  

According to the Uralkali management team, the construction of the Yayva-Solikamsk line is an important transport project not only for the Perm Krai but also for some large enterprises in different Russian regions. The road is skirting some sites of the Verkhnekamskoye deposit of potassium and magnesium salts where the ore is being extracted or will be extracted in the future. This makes it possible to remove the risks of the negative effect of the subsurface processes on the provision of passenger and cargo transportation for all enterprises of the Berezniki and Solikamsk industrial conjunction. 

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