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20 May, 2008 12:13

Russia commits $US 550 BLN for infrastructure

Russia will invest almost $US 550 billion in its transportation system between years 2010 and 2015.

The investment program is the biggest ever adopted by the Russian government.

Prime Minister Vladimir Putin said Russia's underdeveloped infrastructure is a drag on the country's economy.

“Russia carries only one percent of trade turnover between Europe and Asia, while experts say this could be 5 or even ten times more. Thus, it is vital to move from just maintenance of Russia’s transportation system to its development,” Putin said.