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Weekly Lists
August 31, 2018 www.intellinews.com I Page 26
bne:
Infrastructure
High-speed Yekaterinburg- Chelyabinsk railway to indirectly add RUB2.2 trillion to Russia’s GDP by 2034
Maersk to test arctic shipping route
The Centre for Infrastructure Economics (CIE) estimates that the construction of a high-speed railway from Yekaterinburg to Chely- abinsk will indirectly add RUB2.2 trillion ($32.6bn) to Russia’s GDP by 2034. GDP growth from the project will commence as soon as construction begins, currently planned for 2020, and continue as the railway enters operation in 2024. Construction of the railway is estimated to cost RUB360bn ($5.3bn).
The high-speed railway is the first major project of its kind, effectively linking two of Russia’s largest industrial centres into one. In theory this should create synergies, boosting both labour productivity and industrial efficiency. However, given the novelty of the endeavour, it is difficult to assess how much growth associated with the railway will outstrip growth that would have happened without it.
The world's biggest shipping firm Maersk says it will send test ships through Russia’s northern artic route that shortens the trip from Europe to Asia, made possible by the melting polar cap.
Janina von Spalding, a spokeswoman for Denmark based A.P. Moller-Maersk, said on August 23 that the newly designed vessel would embark on "a one-off trial designed to explore an unknown route for container shipping," RFE/RL reported.
Russia has been actively developing the route and commissioned several nuclear powered icebreakers to keep the route open for longer. Russian gas producer Novatek also intends to send lique- fied natural gas (LNG) via the northern route.
A broken locomotive provided by Romanian railways company CFR and the poor infrastructure in the country caused a significant delay to the famous Orient Express in its journey from Paris to Istanbul, local media reported.
The train’s delay in Romania revealed the poor condition of the coun- try’s transport infrastructure — an issue frequently voiced by foreign investors as well.
The Orient Express reportedly entered Romania on August 26, lag- ging behind its schedule by just a few minutes. However, a locomotive breakdown and the speed restrictions caused by repair works led to a further delay of two and half hours. The Orient Express was forced to travel across the country at a speed similar to that reached during its very first journey 135 years ago.
Romania’s poor rail infrastructure causes embarrassing delay to Orient Express