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25 june

Vladimir Putin: Moscow-Kazan HSR construction to be finally agreed with Chinese partners by the year-end

Vladimir Putin, President of Russia, announced that Moscow-Kazan HSR construction will be agreed with Chinese partners by the year-end. “By the year-end, we will have a final agreement on Moscow-Kazan HSR construction”, he noted after his negotiations with Xi Jinping, President of the People's Republic of China. “Although, today we have made a step forward”. Putin added that Russia and China have a number of large-scale transport projects. In particular, the countries are building a new motor road running from Europe to Asia through Russia, which the President said is a “transeurasian road, in fact”. Besides, the Primorye Territory's ports are boosting their capacity. Vladimir Putin also highlighted that the two countries are engaged in building a new land grain corridor to facilitate Siberian grain exports to China and other countries in the region. He noted that it aligns with the concept of bridging Eurasian Economic Union and the “Silk Road Belt”. “Today, we have given an official start to negotiations on a trade and economic cooperation agreement between our integration projects”, he underlined. Putin added that the point at issue is building the continent's common economic space in the future. Moscow-Kazan HSR construction will start during the year, as Oleg Belozerov, President of Russian Railways, told the media. “Design works are actively underway, and we expect to finish phase 1 of the project by the end of summer. I'm now talking about design works for Moscow-Nizhny Novgorod section. The next phase will start in December or early next year”, told RZD's Head. The total value of Moscow-Kazan HSR construction exceeds RUB1 tn. In the future, Moscow-Kazan section may become a part of Moscow-Beijing HSR, which estimated cost is RUB7 tn, and of the Silk Way Project to link China with European and Middle East markets. China intends to extend a 20-year RUB400 bn credit facility for the HSR project and contribute over RUB100 bn in the capital of the special-purpose vehicle. As Alexander Misharin has informed earlier, China no longer requires sovereign guarantees for the project, and the point currently at issue is a concession with the government acting as the Concessor. Moscow-Kazan line will be about 770 km long with the travel speed of 400 km/h and stations at each 50-70 km. Travel time by HSR from Moscow to Kazan will be 3.5 hours against the current 14 hours. Source: TASS

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