Logjam Hits Oil Products
- Feb. 21 2013 00:00
- Last edited 20:37
Hundreds of rail cars loaded with oil products have been blocked for days on their way to Russia's Pacific port of Vanino due to bad weather and traffic bottlenecks, highlighting the need for investment in the country's creaking infrastructure.
Industry officials and experts have long been complaining about the high costs of state-controlled transport, saying years of underinvestment were taking a toll on shipping and rail links, which span thousands of kilometers across the world's largest state.
According to the government's estimates, Russia will need to invest $1 trillion, almost a half of its gross domestic product, into infrastructure by 2020.