China Railway Construction Corporation (CRCC) and China International Fund Ltd (CIF), a private investment fund, may be involved in construction of a transport corridor to Crimea across the Kerch Strait at the cost of USD 1.2-3 billion with some part of the project to be invested in yuan, according to Kommersant publication.
This is primarily a political step which shows build-up of relations between Moscow and Beijing amid Western sanctions and China may also receive access to other major projects in the region, the daily sources said. But, in the view of experts, it will be difficult for Russian companies to participate in infrastructure projects in Crimea after Chinese companies enter the market.
The Transport Ministry prepares to conclude with Chinese companies a memorandum on building a transport corridor across the Kerch Strait which will connect southern Russia’s Krasnodar Territory and Crimea, sources said to the daily. A technical blueprint of the project is not approved yet, as this may be a combined motor-railway bridge or a bridge and an underwater tunnel. The memorandum may be signed during President Vladimir Putin’s visit to China in the second half of May, the daily sources said.