Russia to spend $550 bln on modernising transport

Newswire

SOCHI, Russia, May 20 (Reuters) - Russian Prime Minister Vladimir Putin on Tuesday pledged nearly $550 billion to modernise Russia's creaking transport system by 2015. "We are talking about the biggest investment project ever launched by the Russian government," he told a meeting of top transport officials in the Black Sea resort of Sochi. Putin said that out of the 13 trillion roubles ($548.1 billion), 4.7 trillion roubles ($198.1 billion) would be allocated from the state budget. ...

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