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    BANK JP MORGAN, RUSSIAN RAILWAYS TO BE PARTNERS

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    MOSCOW, January 22, RIA Novosti correspondent - President of the joint stock company Russian Railways Gennady Fadeyev discussed cooperation and investment issues with vice president of the JP Morgan investment bank, Miklos Kormos, this Thursday, Russian Railways' PR department reports.

    "The Railways' investment program is aimed at the rehabilitation of the company's fixed assets, at the development of transport nodal points, which define a nation's macroeconomic situation," Fadeyev said at the meeting.

    According to him, "the need to reform the railways sector is linked to the investment resources lack. Government doesn't invest in the sector anymore, while our own resources are not enough. Therefore, our key goal today is to obtain funds from external sources." JP Morgan, one of the world's major investment banks, has been operating on the Russian market for a while. According to Mr. Kormos, the company's experts have consulted for Russian banks during the privatization campaign. In addition, it had earlier worked with railways of the US, Canada and Europe.

    "You need to use foreign experience in reforming railways here in Russia, but to lean on your own reform model," Kormos noted.

    The analysis of the railways reform in Russia which the bank's experts have performed, suggests that Russian Railways has really good prospects, the JP Morgan spokesman emphasized as he expressed hope for a long-term partnership.

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