A consortium of major German companies has offered an over EUR 2 billion investment in the Moscow-Kazan high-speed railway, Kommersant newspaper informs.
Officials from Russian Railways (RZD) met with the head of Siemens Russia and CIS Dietrich Meller this month. They discussed the possibility of USD 1.5 billion investment in the railway construction with an additional EUR 700 million for the purchase of rolling stock. Siemens along with Deutsche Bank, Deutsche Bahn and other major companies are part of the German Initiative Group consortium.
Siemens has said it is ready to provide an enhanced version of the high-speed Sapsan train for the new railway.
The Moscow-Kazan route is planned as part of a network of high-speed lines to be built by the time Russia hosts the football World Cup in 2018.
China has already expressed an interest in funding the Russian project, saying it will put in up to USD 6 billion. Beijing considers the Moscow-Kazan project not only as an investment, but also as a way to boost communication and trade with Russia and Europe.
The joint Russia-China investment in the railway is about USD 15 billion.
The cost of the 770-kilometer track which stretches through seven regions of Russia is estimated at USD 21.4 billion. The current journey time from Moscow to Kazan of 12 hours will be reduced to three and a half. The trains will be able to reach speeds of 400 km/h.
Share on:
