«High-speed Railway»
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08 may

Signing of memorandum of cooperation on high-speed railway service between Ministry of Transport of Russian Federation, Joint Stock Company «Russian Railways,» National Development and Reform Commission of People’s Republic of China and China Railway Corporation

Today, a memorandum of cooperation on high-speed railway service between the Ministry of Transport of the Russian Federation, Joint Stock Company “Russian Railways,” the National Development and Reform Commission of the People’s Republic of China and China Railway Corporation was signed at the Kremlin in the presence of Russian President Vladimir Putin. The document was signed by the RF Minister of Transport Maxim Sokolov, President of JSCo “RZD” Vladimir Yakunin, Director General of China Railway Corporation Sheng Guangzu and Chairman of the National Development and Reform Commission of the People’s Republic of China Xu Shaoshi. The purpose of the signed document is development of cooperation between Russian and Chinese companies in the area of construction of the Moscow — Kazan high-speed rail line, a priority project of the Moscow — Beijing Eurasian high-speed transport corridor. The document states that the parties agree on comprehensive cooperation on designing and consulting, production and delivery of equipment, investment and financing of implementation of HSR projects in Russia, utilization of Chinese technologies and equipment in high-speed rolling stock, as well as experience in construction and operations in the high-speed sector in China; comprehensive cooperation in the area of design and production of high-speed rolling stock. Within the framework of performance of the memorandum, the parties plan to continue consultations regarding approval of the organizational, legal, investment and financing model of implementation of the Moscow — Kazan HSR project, matters of joint production of equipment and its localization, establishment of a special purpose vehicle for implementation of the project on the basis of the principles of public-private partnership (concession). The memorandum comes into effect upon signing. ***** The pilot rail line of the Moscow — Kazan HSR will span 770 km connecting the territories of 7 constituent entities of Russia, with the total population of more than 25M people. The project provides for 15 stops, including Moscow, Vladimir, Nizhny Novgorod, Cheboksary, and Kazan. Travel time along the HSR from Moscow to Kazan will be 3.5 hours, from Nizhny Novgorod to Cheboksary — 1 hour, to Kazan — 1.5 hours. The annual passenger traffic along the route during the first years of operation is estimated at 10.5M people. The project calls for deep (at least 80%) localization of advanced construction, creation of more than 370K new jobs, development of small and mid-size businesses in the regions of the rail line route. This is the largest infrastructural project in modern Russia; its implementation will require application of the public-private partnership mechanisms. Investments in the project will provide a large-scale support to the Russian industry, primarily metallurgy (production of tracks and metal structures), mechanical engineering, the sector of construction materials, and other branches.

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