OAO Russian Railways has signed a memorandum with the railways of Austria, Slovakia and Ukraine on extending the broad-gauge railway network, according to a correspondent of Interfax-Ukraine attending the International Rail Business Forum "1520 Strategic Partnership,"
The sides also signed a resolution on launching a joint venture as the justification for investing into the project had been completed.
The aim of the project is to connect the central European railways system with the regions of the Trans-Siberian Railway, attracting cargo flows to the Asia-Russia-Central Europe route and increasing railway transportation competitiveness against transportation by sea or by road.
The sides will invest EUR 1.5 million each to finance a feasibility study of the project and carry out the required research work.
