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Economy 31/03/2009 Uzbekistan to invest US$1.73bn in railway modernization
Uzbekistan to invest US$1.73bn in railway modernization
Tashkent, Uzbekistan (UzDaily.com) -- Uzbekistan plans to invest US$1.73 billion in development and modernization of the railways in 2009-2013.

A comprehensive programme for the next five years was approved in March. The programme entails investments in construction and modernization of the railroad lines, tracks and infrastructure (US$$490.32 million), electric supply along the railway lines (US$223.9 million) and upgrade of the rolling stock and establishment of the rail equipment maintenance units (US$1.019 billion).

The national rail operator, Uzbekistan Temir Yollari (Uzbekistan Railways) will be financing the programme from its own resources, borrow from international institutions and use the funds allocated by the Uzbekistan Development and Reconstruction Fund.

The programme will boost traffic turnover to 31.65 billion tonnes/km in 2014 from 23.432 billion in 2008 (35.1% up), passengers turnover to 3.080 million passengers/km from 2.491 million (23.6% up). Export of services will rise 33.2% to $243.7 million from US$182.9 million last year.

Uzbekiston Temir Yillari is 100% state owned company established in 1994. The total length of railroad lines in Uzbekistan is 4.1 million km. The Uzbek rail road manages 66% of cargo transportation inside the country and 80% of export and import freight.

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