Sergey Pavlov, Director General of RZD International and Oscar del Toro Quesada, Director for Economics and Finance of Railways of Cuba, signed an agreement on rail infrastructure modernisation. The agreement signed between RZD International and Cuban Union Railways sets the main conditions of the contract for rehabilitation and upgrading of railway infrastructure in Cuba.
Under the agreement, the contract has a value estimated at EUR 1.9 billion and is scheduled for signing by the end of 2017 after the parties agree on its details.
The agreement was signeed on 21 September during the session of the Russian-Cuban Intergovernmental Commission for Economic, Commercial, Scientific and Technological Cooperation, held in Moscow.
The plans involve the upgrade of more than 1,100 km of railway tracks in Cuba.
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