VLADIVOSTOK, February 18th, 2004 (RIA Novosti) - The modernisation of the Trans-Korean Railway and its linking with the Trans-Siberian Railway require $2.5 bln, believes Gennady Fadeyev, the president of the Russian Railways Company. On Wednesday, he gave a news conference in Vladivostok, an administrative centre of the Russian region, bordering on North Korea.
Gennady Fadeyev said that Russia had already invested about 500 million roubles (some $18 million) into the investigation of the North Korean railway, which will become a section of the future Trans-Korean Railway, and also into the feasibility study of the project.
The Trans-Korean Railway is a very big project. Therefore, an international consortium has to be formed for its implementation, the president of the Russian Railways company said. "The company will not be able to handle this project alone, serious investors need be found," he added.
