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MOSCOW, November 21. /TASS/. The project to build a high-speed rail link between Moscow and Beijing will cost about $150 billion, Russian Railways (RZD) First Vice-President Alexander Misharin said on Friday.
The RZD official said “almost 4 trillion rubles (about $86 billion at the current exchange rate) will be provided by the Chinese side.”
The construction of the Russian stretch of the Moscow-Beijing high-speed railway may require up to 2.8 trillion rubles (about $60 billion), Misharin said. “We need to calculate it because an expert study has not been carried out yet,” the RZD first vice-president said.
RZD is discussing the possibility of raising $8.5 billion from the Chinese side to finance a railway stretch between Moscow and Kazan in the Volga Republic of Tatarstan. The stretch will become a part of the high-speed railway between the two capitals, he said. “We’re switching to specific negotiations,” he said.
During a visit by China’s Prime Minister Li Keqiang to Russia on October 12-14, representatives of Russia’s Transport Ministry and RZD and China’s State Committee for Development and Reform and China Railway Corporation signed a memorandum on cooperation in developing high-speed railway communication.
The sides will develop a project of the Moscow-Beijing Eurasian high-speed transport corridor, including the priority Moscow-Kazan railway as the first section of the new rail link.