Vladimir Putin: Modernization of Novorossiysk transport hub is a top government priority

Novorossiysk is one of the most important and largest transportation hubs in the country and its modernization is one of the top priorities of the government's transportation complex, said Russian President Vladimir Putin in a conference on questions of the development of the Novorossiysk transportation hub today. He said that it was necessary to conduct the serious work of attracting domestic and foreign investment to the transportation complex.

Railroad Minister Gennady Fadeyev, Presidential Plenipotentiary in the Southern Federal District Victor Kazantsev, Krasnodarsk Territory Governor Alexander Tkachev, Transportation Minister Sergey Frank, Chief Naval Commander Vladimir Kuroyedov and Transneft President Semyon Vaynshtok all took part in the conference.

The total amount of freight processed through the Novorossiysk port for the first six months of 2003 increased by 107.3% compared to the same period last year. USD 33 million has been allocated for the development of the Novorossiysk railroad station for the period from 2003 through 2005. In all the government is planning to invest USD 114 million for its 'Russian South' railroad development project from 2002 through 2006.

Analysts say that the amount of freight shipped along the transportation routes of Southern Russia will increase by 1.6-1.7 times by 2006 and could reach 125-130 tons, including 110-115 million tons through the port of Azovo-Black Sea and the Caspian basin. That total includes 80 million tons of oil products and 30-35 million tons of dry cargo.

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