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TALLINN, November 16 (Itar-Tass) — Estonian and Russian railway experts are negotiating organisation of a joint venture to launch high-speed trains between the two countries, Estonia’s GoRail company said on Friday.
The company said that Estonia and Russia plan to organise quick and modern railway communication between the two countries.
Federal Passenger Company, a subsidiary of Russia’s RZD, will be a partner in the joint venture.
The two countries plan to launch high-speed trains between Tallinn and Moscow and St. Petersburg. They hope the joint company would be registered by mid 2013. GoRail said the Russian side is attracted to the project by the opportunity to use borrowed money from the European Union, which would be much cheaper than money borrowed from local banks.