Russia's Ural Industrial-Ural Polar Corporation, which develops mineral resources in the Subpolar and Polar Urals, Russian Railways and Gazprom will set up a joint venture to build and operate a 150 billion ruble ($5 billion) railway link to hydrocarbon reserves in Russia's north, Ural Industrial-Ural Polar Corporation said on Monday
The 707-kilometre link, to run across the energy-rich Yamal peninsula and the metals-rich north of the Krasnoyarsk region, will be designed and run by Special Project Company, Ural Industrial-Ural Polar Corporation said in a statement.
The link is expected to be operational by the end of 2014.
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