AKIPRESS.COM - Russian Railways is seeking to attract additional cargo traffic to the Ulaanbaatar Railway, Russian Railways President Oleg Belozerov said at a meeting with D.Ganbat Minister of Roads and Transport Development of Mongolia in Moscow, reports news.mn.

Russian Railways manages a 50-percent stake in the Russian-Mongolian venture, Ulaanbaatar Railway Joint-Stock Company. According to Russian Railways, Oleg Belozerov and D.Ganbat discussed the operations and prospects of the Ulaanbaatar Railway, including the program to create a Russia-Mongolia-China economic corridor and the development of Mongolia’s potential for increasing transit cargo shipments.

They also agreed on the need for proactive trilateral cooperation involving China in order to create this Russia-Mongolia-China corridor. Efforts to upgrade the Ulaanbaatar Railway are expected to increase its capacity so that it can satisfy domestic demand in Mongolia for the shipment of local goods, and promote transit shipments between China, Russia and Europe. At the conclusion of the meeting, Oleg Belozerov and Dangaa Ganbat signed the minutes of the Ulaanbaatar Railway Joint-Stock Company shareholders’ meeting to approve the 2015 results and the distribution of dividends to Russia and Mongolia as the company’s shareholders.