S.Korean Firms Invited to Invest in N.Korea-Russia Railway

      December 11, 2014 12:11

      Russian Railways on Tuesday made it clear that South Korean businesses are welcome to invest in a North Korea-Russia railway project, according to the Voice of Russia.

      Vladimir Yakunin, the head of Russian Railways, told 24 TV that the company and the North Korean government have completed restoration of the Rajin-Khasan section of the railroad and built a terminal.

      In collaboration with a consortium of South Korean companies, Russian Railways now hopes to involve South Korea as well. Yakunin did not give many details.

      Na Hee-seung of the Korea Railroad Research Institute here said Russian Railways is taking an interest in a project to modernize North Korea's railway line from Wonsan in the North to Cheorwon and Seoul in the South and link it with the Trans-Korean Railway and the Trans-Siberian Railway.

      Rason Con Trans, a Russian-North Korean joint venture firm, completed the modernization of the 54 km-long Rajin-Khasan railway section.

      A South Korean consortium of POSCO, Hyundai Merchant Marine, and KORAIL is looking to buy half of Russia's 70-percent stake after a trial operation.

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