Russian Railways and DPRK Ministry of Railways sign memorandum of intention
Representatives of the company Russian Railways (RZD) and the Ministry of Railways of the DPRK have concluded talks on Saturday by signing a memorandum of intention, Itar-Tass reports. The talks were held in Pyongyang during four days.
The Russian delegation was headed by RZD vice-president for foreign economic activities Alexei Mersiyanov, and the North Korean one - - by Deputy Minister of Railways Kim Chol.
The detailed content of the document hasn’t been disclosed yet. However, as Itar-Tass managed to find out, the question is of the creation in the future of a joint venture which will be engaged in reconstructing a railway section from the border station Hasan to the port Rajin located in the northeast of North Korea. Besides, the new joint venture is to build a container terminal in Rajin. After the conclusion of repair and construction works, the sides are to jointly use the new infrastructure for transit freightage from North-Eastern Asia to Russia and Europe.
To solve technical and financial issues connected with this project, working groups will be set up. The first meeting of the groups is to be held in Pyongyang in June this year. Upon coordinating all practical issues, the sides plan to organize a meeting of leaders of the two countries’ railways to sign an agreement on the JV creation.
