OREANDA-NEWS. February 5, 2009. The Russian Ministry of Transport last week approved the Belkomur investment project. That might put the projected railway line between Perm and Arkhangelsk an important step forward. Experts still remain skeptical towards the railway plans.

The Russian Ministry of Transport now confirms that the project investment plan was approved for support over the federal Investment Fund. The approval was officially made in a ministry export council meeting last week, the ministry website informs.

Experts however remain skeptical towards the project. A source close to the Arkhangelsk Oblast administration, who wishes to remain unnamed, says to Regnum that the project is likely to be postponed on “indefinite time”. He believes the unfolding economic crisis will put a stop to the project plans.

The ministry approval might still be good news for the regions of Arkhangelsk Oblast, the Komi Republic and the Perm Kray, which over the last years have worked to develop the railway project. The Belkomur will cut railway shipping distances between Western Siberia and the Barents Sea with up to 800 km.

In June 2007, the leaders of the three regions signed a memorandum on the project, outlining a plan for mixed federal-regional-commercial financing. The 1250 km long railway will cost an estimated 480 billion RUB. 720 km of this remains to be built.