On the 9th of May, Russia and China signed agreements on forms of cooperation and financing models for the Moscow-Kazan high-speed rail link, the Moscow-Beijing Eurasian high-speed transport corridor priority project, and projects to build a railway linking Elegest, Kyzyl and Kuragino to the Far East port.
“We are developing our cooperation in the transport sector. China is ready to invest around 300 billion rubles to finance construction of a high-speed railway link between Moscow and Kazan”, stated President Vladimir Putin after the meeting with the President of the People’s Republic of China Xi Jinping.
Russian Railways, the Ministry of Transport of the Russian Federation, Chinese Railways Corporation, and China’s National Development and Reform Commission signed the memorandum of understanding on the construction of Moscow-Kazan high-speed rail link.
According to the document, the parties will cooperate in the areas of design & consulting, supply and production of railway equipment, construction, investment and finance for HSL in Russia. They will also cooperate in the development and production of high speed rolling stock, making use of the Chinese experience and technology in the construction and operation of high-speed lines.
Within the framework of the memorandum, it was agreed to continue consultations on the harmonization of the legal and financial model for the Moscow-Kazan high-speed rail link project, on establishing a special project company for implementation of the infrastructure project on the basis of public-private partnership (concession).