Russia will offer investors, including BRICS bank to participate high speed railway Moscow-Kazan - Finance Minister Siluanov

UFA. July 8. / TASS / Russia will offer investors, including BRICS bank to participate high speed railway Moscow-Kazan, but first the total cost for the project must be calculated, Finance Minister Anton Siluanov said on Wednesday at the BRICS summit in Ufa. "The project is quite expensive. The Chinese partners took the initiative to enter into the capital project disbursement. Attracting new members, including the BRICS Bank, the question is obvious, it is necessary to check the numbers," -Siluanov said. The length of the HSR between Moscow and Kazan will be about 770 km, with trains to travel along it at the speed of up to 400 kph. Travel time from Moscow to Kazan will be reduced to 3.5 hours from 14 hours currently. As was previously reported by TASS, the contract to design the route has been recently won by a China-Russian consortium composed of Moscow Transportation Engineering Design Institute, Nizhny Novgorod Metro Design and CREEC (China Railway Eryuan Engineering Group Co. Ltd.). Moscow-Kazan high speed railway may later become part of Moscow-Beijing high speed railway and Silk Road project connecting China with markets of Europe and the Middle East. As was previously reported by TASS, the contract to design the route has been recently won by a China-Russian consortium Moscow Transportation Engineering Design Institute, Nizhny Novgorod Metro Design and China Railway Group Ltd. The cost of the contract is 20 bln rubles ($400.37 mln) without VAT. Read more