The construction of the Northern Latitudinal Passage is expected to be completed in 2027.
"The total cost of the project is currently estimated at about 0.5 trillion rubles, construction is expected to be completed in 2027," the report said following a meeting in Salekhard led by Russian Minister of Economic Development Maxim Reshetnikov.
According to the chairman of the State Duma Committee on Control and Regulations Olga Savastyanova, the Northern Latitudinal Passage will connect the Northern Railway with the Northern Sea Route through the port of Sabetta. This will improve logistics and open up new markets for companies that are considering investing in projects for the development of mineral deposits located in Komi.
The Northern Latitudinal Passage is a 707 km long railway project that will connect the Northern and Sverdlovsk Railways and will make it possible to export cargo from new deposits in the northern regions of the Yamal Peninsula. The projected volume of transportation by the USC will amount to 23.9 million tons of cargo per year, the bulk of which will be, in particular, transportation of gas condensate. The project will also speed up the transportation of container cargo.
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