OREANDA-NEWS. On October 03, 2008, Vladimir Yakunin, the President of Russian Railways, and Gennady Petrakov, the head of the Federal Agency of Railway Transport, signed major agreements for two investment projects: “Reconstruction of the Section between Oune and Vysokogornaya with the Construction of a new Kuznetsovsky Tunnel on the Section between Komsomolsk-on-Amur and Sovetskaya Gavan” and “High-speed Passenger Services on the St. Petersburg - Helsinki Route,” with partial financing to come from Russia’s Investment Fund, reported the press-centre of Russian Railways.

The project “Reconstruction of the Section between Oune and Vysokogornaya” will be implemented with government support through a public-private partnership.

Russia’s Investment Fund will provide 17.6 billion roubles, which is 30% of the total project cost, and Russian Railways 42.3 billion roubles in equity to make up the remaining 70%.

Russia’s Investment Fund will also provide 28 billion roubles, or 35% of the total cost, for the project “High-speed Passenger Services on the St. Petersburg – Helsinki Route”, while Russian Railways will invest the remaining 51.7 billion roubles or 65%.

Russia’s Investment Fund will thus provide total funding of 45.6 billion roubles for the two projects, while the Company will invest 94 billion roubles.