«High-speed Railway»
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03 june

Russian Railways told about the Chinese share in the capital of Moscow-Kazan HSR

As Alexander Misharin, First Vice President of Russian Railways, told the media at the 1520 Strategic Partnership Business Forum, the share of Chinese companies in joint ventures to be involved in Moscow-Kazan high-speed line construction will not exceed 50%. According to him, the point at issue is two financial models of Moscow-Nizhny Novgorod and Nizhny Novgorod-Kazan sections. The joint venture capital for the Moscow-Nizhny Novgorod section will equal RUB52 bn with a 20-year RUB250 bn loan. And the joint venture capital for the Nizhny Novgorod-Kazan section will equal USD1 bn with a 20-year RUB150 bn loan. “The lending terms are now being refined”, noted Mr. Misharin, but refused to specify the lending commitments. “We've been offered good terms, however we wish for better. They offer very favourable market terms of return on capital, never available in Russian practice before”. Key project financing sources will include the Silk Road Fund and China Development Bank. Besides, participation of NDB BRICS and Asian Infrastructure Investment Bank is being negotiated. To purchase land for the HSR construction purposes budgetary funds or the Sovereign Wealth Fund funds will be used. Basic construction materials will be manufactured in Russia. The share of Chinese construction companies in joint venture capitals will be between 20% and 40%. New rolling stock manufacture will start concurrently with the beginning of infrastructure construction. “To be able to transport passengers by 2020, new rolling stock tests should begin in 2018”, explained Alexander Misharin. The rolling stock will be a joint production of Chinese CRRC and Sinara. The operating speed will be 360 km/h with up to 400 km/h acceleration on certain sections. Production will be up to 70% localised. Source: Gazeta.ru

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