China Railway Group Ltd has won a contract of $ 390 million to develop the Moscow-Kazan high-speed railway will further expand in China. The railway will become part of the new Silk Road project.
A consortium led by a subsidiary of China Railway along with two Russian companies held jointly topography, regional development planning and design for the Moscow-Kazan segment of high-speed railway line Moscow-Kazan-Ekaterinburg in 2015-2016, China Railway Group said Wednesday, adding that the formal agreement will be signed in late May. The company expects to complete the project before the World Cup 2018 in Russia. Kazan is one of the Russian cities hosting the tournament.
The cost of the Moscow-Kazan connection is estimated at $ 21.4 billion. Train journey from Moscow to Kazan, capital of the Republic of Tatarstan, will be reduced to just three hours rather than the 14 hours it takes now. The train will be able to reach speeds of 400kph.
China sees the Moscow-Kazan project not only as an investment but also as a means to improve communication and trade with Russia and Europe. The rail link would connect Moscow and Beijing in the future as the two countries plan to launch a high-speed train between the capitals to take two days.
The idea also coincides with the revival of the Silk Road project. Beijing last month proposed to build an economic corridor linking China, Mongolia and Russia. The construction of the economic corridor could connect Economic Belt Silk Road from China to Russia transcontinental rail plan and program Camino Mongolian prairie, as the Ministry of Foreign Affairs of China in April.
China investors will invest nearly $ 6 billion in the construction of the first line of high-speed train between Moscow and Kazan Russia, the Russian president, Vladimir Putin, he announced last week during a meeting with his Chinese counterpart. A series of deals worth billions of dollars have been signed when the leader of China, Xi Jinping, visited Moscow for the 70th anniversary of the defeat of Nazi Germany in World War II.
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