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Russia Railways says it seals Libya contract

Wed Apr 16, 2008 3:32pm EDT

TRIPOLI, April 16 (Reuters) - State-controlled Russian Railways has finalised a 2 billion euro ($3.16 billion) contract with Libya to build a stretch of line from the cities of Sirte to Benghazi, the company's head said on Wednesday.

Railways head Alexander Yakunin, speaking to reporters on a visit to Libya with Russian President Vladimir Putin, said the contract would be signed on Thursday.

"The document is ready for signing," he added.

The venture would take four years to complete and involve Libyan subcontractors, he said without elaborating. The coastal cities are more than 500 km (310 miles) apart. (Reporting by Oleg Shchedrov; Writing by William Maclean; Editing by Brian Moss)



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