OREANDA-NEWS. On May 22, 2008 Vladimir Yakunin, Russian Railways’ President, and Alexander Tkachev, the head of the Administration of Krasnodar Territory, signed an agreement to implement transit through the Krasnodar. As a result of the joint project, which was developed by the Territorial authorities, railway infrastructure will be moved away from the centre of Krasnodar, reported the press-centre of Russian Railways.

The two men met in Sochi at the III International Business Forum “Strategic Partnership 1520”.

The agreement on the project, designated “Krasnodar Transit”, provides for the creation of a joint working group, which will further elaborate the draft plan and harmonise the measures required for its implementation.

Russian Railways will be represented on the working group by Boris Lapidus, Senior Vice President at the Company, Vladimir Vorobyov, Vice-President, and Vladimir Goloskokov, who heads North Caucasus Railways.

Alexander Remezkov, the First Deputy Head of Krasnodar Territory's Administration, will be representing the Territory, which has agreed to put up 80 million roubles to provide for the development of the design and survey documentation.

According to the preliminary estimates by the Territorial Administration, the total project cost could amount to more than 30 billion roubles, including part of the railway project estimated at 6-8 billion roubles.

It is expected that the project will be included in a federal program or submitted by the Territorial Administration to the list of projects which are applying for government support and financing from the Russian Federation’s Investment Fund.