Russians to Upgrade Cuba’s Railway System

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The Russians have signed an agreement with the Cubans to upgrade the Island’s railway system. Ricardo Cabrisas Ruiz, Vice President of the Council of Ministers of Cuba, signed the agreement yesterday in a ceremony at the International Economic Forum in St. Petersburg. The intergovernmental agreement for the modernization of the railway infrastructure was co-signed by Evgueni Dietrich, Minister of Transport of the Russian Federation. Russian Deputy Prime Minister Yuri Borisov said the project is valued at “slightly less than $1 billion.” Cuba’s original railway system was constructed by the Spanish with the first track laid in 1837. The Spaniards built it to transport sugar to the coastal ports. Once most glorious, the Cuban railway was the first railroad system in Latin America and the seventh…




Unbiased reporting on economic news and business developments in Cuba by industry sector


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