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Russian Railways and Moscow to reconstruct Inner Moscow Railway Ring.

On September 11, the President of Russian Railways Vladimir Yakunin and the Mayor of Moscow Yury Luzhkov signed an agreement on the joint implementation of an investment project “The Reconstruction and Development of the Inner Moscow Railway Ring” to promote urban passenger transport. The project should be complete by 2015.

- By 2010, the first phase will be completed, which consists of the reconstruction of the Inner Ring stretch between Presnya – Kanatchikovo and includes the construction of 5 stops and beginning of passenger services;

- By 2012, the Inner Moscow Railway Ring will be electrified and 7 extra stops and an additional main line built for freight traffic on the section between Kozhuhovo - Cherkizovo - Likhobory - Kutuzovo;

- In 2015, a further 30 stops and 19 freight hubs will come into operation. Up to 100 pairs of passenger electric trains a day will run without interrupting freight traffic.

Fares on the Inner Ring will be comparable to the cost of a ticket on the Moscow underground provided the project achieves break-even point.

As part of the Agreement, Russian Railways and Moscow will establish a joint venture called the Moscow Railway Ring.

The company’s authorised capital will be come in equal amounts from the two parties and consist of rights to land and other property situated and constructed in the area along Inner Ring, as well as other assets necessary for the project.