The General Director of the "Ural Industrial - Ural Polar" Corporation will have a meeting with the Minister of Industry and Trade of the Czech Republic

Alexander Beletsky the General Director of JSC "Ural Industrial - Ural Polar Corporation" will meet with the Minister of Industry and Trade of the Czech Republic Martin Kocourek, on the 25th of October, 2011 in Prague.

The main issues of the evelopment of the Northern latitudinal railway project – the railway line " Obskaya-Salekhard-Nadym-Pangody-Novy Urengoy-Korotchaevo" are will be discussed at the meeting.

The first negotiations with the Czech side on their participation in the realization of the Project were in December 2009. Since then an agreement with a pool of Czech banks was reached on their participation in the financing of the Project. The Corporation intends to use the unique development of Spanish-Czech construction company "OHL" in the construction of railways and the related facilities.

In order to reduce the cost the Corporation has proposed a new concept of project`s implementation, These new design solutions will help to save approximately up to 50 billion rubles.

The new concept presentation was approved at the Ministry of Economic Development of Russia.

The scheduled meeting is a confirmation of a thorough elaboration of the project and an indicator of the readiness of both parties to work together on the realization of their plans.

We are confident that this event will have a real benefit to all participants of the meeting, and will not only be a good reason for promoting financial support for enterprises from both countries, but will also make a significant contribution to strengthening of the Russian-Czech relations.