Russian Railways' Work in Cuba Estimated to Cost 1.8 Bln Euros

The Russian Railways holding company's infrastructure upgrades and maintenance vehicle deliveries to Cuba are estimated to cost 1.8 billion euros ($2 billion), First Vice-President Alexander Misharin said Thursday.

ST. PETERSBURG (Sputnik) — He said that negotiations are on schedule and the contract is expected to be signed by year-end.

"We have identified the scope of work to modernize the Cuban railways and signed a protocol with the Cuban Union Railways for 1.8 billion euros," Misharin told reporters on the sidelines of the St. Petersburg International Economic Forum (SPIEF).

The Rossiya Segodnya International Information Agency is the official media partner of the forum.