Russia allocates $30 billion for railways to China
Russia will allocate $30.8 billion until 2030 to develop railway connections with China.
According to the presentation of the Ministry of Transport of Russia, there are seven projects, it is planned to build three new checkpoints across the Russian border with neighboring countries, lay 369 kilometers of tracks in Russia and three thousand kilometers of railways in Kazakhstan, Mongolia and China.
The largest of the seven projects will be the new international transport corridor between Russia, Mongolia and China. The railway will appear along the Eligest – Kyzyl – Kuragino road (Tuva and Krasnoyarsk Territory), in order to connect the Trans-Siberian Railway with China through Mongolia.
The reason for the construction was the conflict with Western countries, because of which a significant part of the logistics had to be diverted towards China and the Far East. The current infrastructure is unable to meet the needs of the economy, causing imports and exports to suffer.
In the second half of June, it was reported that China increased oil supplies from Russia to a record level, increasing imports by 55% in May in annual terms. Thanks to this, the Russian budget will be able to replenish an additional 8 billion dollars by the end of 2022.
