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Russian Railways Ready to Invest $1.5 Billion in Mongolia

OAO Russian Railways, the country’s rail monopoly, is ready to invest $1.5 billion in Mongolia’s train network to help the country exploit its natural resources, Chief Executive Officer Vladimir Yakunin said.

Mongolia is expected to name the partner that will help it expand the country’s rail network in June or July, Yakunin told reporters today in Moscow. The country needs about 6,000 kilometers (3,730 miles) of tracks as it seeks to develop deposits such as those in the Tavan Tolgoi coal basin.