August 22, 2008

Russian Railways and North Korea to establish JV

Mr Vladimir Yakunin head of Russian Railways announced that the company and the Government of North Korea came into agreement to establish a JV which will be responsible for the modernization of rail road Khasan.

Mr Yakunin pointed out that Russian Railways will operate terminals at the port of Radjin.

Currently project documents on the rail road modernization are being worked out. It is planned that the project will be ready by the summer of 2008.