The construction of Moscow-Kazan high speed railway was recently estimated at RUB 1.3 trillion (USD 22.4 billion), First Vice President of Russian Railways Alexander Misharin said in an interview for TASS.
“We see now the total project value does not exceed the price stated in the pre-investment feasibility study. Considering the adjustment in prices of relevant years, the total cost is currently valued at 1.3 trillion rubles [USD 22.4 billion], which is actually in line with our calculations,” Misharin said.
Initially, the construction of the 770 km line was estimated at RUB 1 trillion (USD 17 billion).
Russian Railways announced in May 2016 that China has agreed to provide a RUB 400 billion (USD 6 billion) for the high speed rail project. Under the agreement, China will lend RUB 250 billion (USD 3.8 billion) for the Moscow-Nizhny Novgorod section and RUB 150 billion (USD 2.2 billion) for Nizhny Novgorod-Kazan section. China also will offer RUB 53 billion (USD 800 million) in equity financing, the company says.
Regarding to the rolling stock, Misharin said that it will be built in Russia and Sinara, Siemens and CRRC are working on the train project and they should launch the construction at the Sinara. “Certainly, in Russia. The real struggle is currently underway; the site to produce such rolling stock will be selected. Many regions are interested,” Misharin said.
In May 2016, a representative of Sinara told to local media that Sinara Group may form a joint venture with CRRC Changchun Railway Vehicles to build trains for the Moscow-Kazan HSR.
At the beginning of 2016, the Russian Government has approved the schedule for the tender on rolling stock supply tender for Moscow-Kazan HSR. According to the schedule, the manufacture of the rolling stock is to be commissioned in December 2019, and at least 70 – 80% of the components have to be localized (in Russia).
In November 2016, after a meeting with Giovanni Rocca, the Vice President Promotion of International Activities at Ferrovie dello Stato Italiane, Alexander Misharin said that a joint working group will be set up to ensure operational coordination and discussion of all issues regarding participation of Russian and Italian companies in implementation of Moscow-Kazan HSR.
Another group interested in the project is formed by German companies that announced they are ready to provide EUR 2.7 billion for the Moscow-Kazan HSR.
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