The Russian government says it expects to approve legislation in the middle of this year which would allow the private sector to invest in metro projects, including the construction of new lines and the acquisition of new rolling stock, informs the International Railway Journal. The Ministry of Transport has prepared and issued for public consultation a draft law that would allow non-budget funds to be invested in the construction of metro lines through concessions. The bill will regulate private sector investment in all aspects of light rail and metro projects.
There is already one PPP project for a Moscow metro line. Crocus Group is the only company to participate in a public-private partnership to expand the capital’s metro system. Crocus Group invested 600 million rubles to build Myakinino metro station. The first metro station to be built on the funds of a private investor was opened in 2009. Two underground passageways connect the station to Crocus shopping and entertainment centers: Crocus City Mall, Crocus City Hall, Crocus Expo and Tvoi Dom. As part of the PPP agreement, Moscow city invested in the metro line and engineering works.
Photo* Crocus Group