«High-speed Railway»
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25 december

Russian Railways seek to reduce Moscow–Kazan line costs

Russian Railways may reduce Moscow-Kazan line costs by RUB245 bn, informs Prime Agency by reference to Alexander Misharin, First Vice President of Russian Railways. The German Initiative consortium offered a EUR2  bn or RUB155 bn financing of Moscow-Kazan high-speed railway line (HSR) project. The financing document is not yet signed. China had also earlier expressed its intent to invest over RUB400 bn in the first Russian HSR. “We have a proposal from our German partners for a similar (to the Chinese one, Slon's note) memorandum of cooperation, where they commit to an up to EUR2 bn worth financing on various terms”, said Mr. Misharin. He told that both Chinese and German financing may be used for the HSR construction. According to him, the first tranche will be required as soon as in 2016. Moscow-Kazan line is being designed by a consortium of Mosgiprotrans, Nizhegorodmetproekt, and China Railway Eryuan Engineering Group. Estimated design costs are RUB20 bn. Alexander Misharin, First Vice President of Russian Railways, said in October that the 2016 budget allocates RUB5 bn for the design works. Source: Slon.ru

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