Russian Railways promised $1.2bn for major infrastructure projects

The Baikal to Amur spur of the Trans-Siberian railway

Russia’s government has pledged to increase the charter capital of state railroad monopoly Russian Railways by $1.2bn to help the giant corporation carry out a series of investment projects – including the modernization of the 100-year-old Trans-Siberian Railroad and of its Baikal-Amur spur; and the construction of the  Moscow-Kazan high-speed railway, it announced earlier this week.  A further $362m has been earmarked for the development of  public transport in the Moscow region. 
Earlier this year, Russian Railways warned the government that it would need $8.6bn in state subsidies over the next five years to avoid net losses that would almost certainly curtail its investment activities.