D.IDEVKHTEN MEETS HEAD OF RUSSIAN RAILWAYS

Ulaanbaatar, Mongolia, /MONTSAME/ The Ambassador Extraordinary and Plenipotentiary of Mongolia to the Russian Federation D.Idevkhten met Wednesday V.I.Yakunin, a president of the Russian Railways Open Stock Venture (OSV).
The Ambassador mentioned that the Ulaanbaatar Railways (UR) Joint Stock Venture has significantly contributed to Mongolia's socio-economic development aand underlined that widening of the Mongolian economics demands to expand the railway network and to reform technologies of the Mongolian railways.
“Our countries issued a declaration on development of strategic partnership during the state visit of the Russian President to Mongolia last year. The collaboration in the railway sector must be developed in the spirit of this document,” Idevkhten said and expressed a hope that the Russian Railways OSV will contribute to the railway cooperation between the countries. Then he asked Yakunin about a matter on increasing size of the authorized capital of the Ulaanbaatar Railways.
Mr. Yakunin said the Russian Railways has a willingness to renovate techniques and technologies of the Ulaanbaatar railways and to improve its capacity of the transit. "The sides decided to augment the authorized capital of the UR by USD 125 million each, thus increasing by USD 250 million. The Russian side will give Mongolian side these 125 millionin a form of a soft loan. A financing resource for this has been found, but a final decision has not been made yet," he said.
Yakunin emphasized that it the railway cooperation it is important to be independent from politics and to adhere to mutually-beneficial principle.
Present at the meeting were B.Erdenebileg, advisor to the Ambassador on trade and economics; B.Chimedtseren, first secretary of Mongolia's Embassy in Russia; J.Bayarkhuu, second secretary; G.P.Petrakov, a head of Transportation Agency of the Russia Railways; V.Morozov and A.A.Gorgiladze, vice-presidents of the Russian Railways OSV; and A.Konovalov, head of the OSV's International Cooperation Department.
B.Khuder