Russia Will Help Cuba to Restore Railways
OREANDA-NEWS The Russian government approved the draft agreement on cooperation between Russia and Cuba in the restoration of the railway infrastructure of the Republic, the order signed by Prime Minister Dmitry Medvedev, posted on the website of the Cabinet.
The draft has been prepared for the implementation of the decisions taken at the meeting of the Russian-Cuban intergovernmental Commission on trade, economic, scientific and technical cooperation, which was held on September 21, 2017 in Moscow.
"In accordance with paragraph 1 of article 11 of the Federal law "on international treaties of the Russian Federation" to approve the draft agreement between the government of the Russian Federation and the government of the Republic of Cuba on cooperation in the restoration and modernization of the railway infrastructure of the Republic of Cuba", — stated in the order.
The purpose of the agreement is to create favorable conditions for Russian companies to implement the project of restoration and modernization of the railway infrastructure of Cuba.
As noted in the reference to the order, the contract for the implementation of this project is planned to be signed by LLC "RZD international" and the Union of Railways "Railways of Cuba". In the text of the agreement, possible sources of financing are Bank loans provided by Russian banks, as well as the funds of a special account through which Cuba's debt to the Russian Federation is paid.
The agreement implies cooperation in the restoration of Railways and their components, in investments in the equipment of the railway industry, including railway infrastructure and specialized track equipment for the execution of works. In addition, the parties cooperate in the implementation of railway signal systems, in the implementation of organizational research and development of Railways, in the training and education of specialists in the field of Railways and other aspects related to rail transport.
The agreement is valid until December 31, 2028 and can be extended by agreement of the parties.