Russian President Vladimir Putin announced today during his speech at the plenary session of the Eastern Economic Forum held in Vladivostok that the capacity of the Baikal-Amur (BAM) and Trans-Siberian railways will double by 2032.

Putin said: “We will continue to modernize the eastern railway axis, the Baikal-Amur (BAM) and Trans-Siberian lines. By 2032, their capacity should be one and a half times higher than it was at the beginning of this year.”

He also pointed out that special attention will be given to expanding the railway lines leading to the Far East maritime ports, which are experiencing dynamic growth. He noted that the cargo capacity of the region’s ports has doubled over the past decade to nearly 380 million tons annually, mainly thanks to private investments.

The Russian president added that the Far East region is outperforming the general Russian development rates in several indicators, with the efforts yielding expected results. The region has recently held leading positions in some economic indicators.

The 10th Eastern Economic Forum kicked off last Tuesday in Vladivostok in Russia’s Far East, with broad international and domestic participation. The event continues until September 6 and is held at the Far Eastern Federal University campus. This year’s forum carries the slogan: “Far East.. Cooperation for Peace and Prosperity.”