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German Initiative to invest €2,7 bln in Moscow-Kazan high-speed railway

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German Initiative to invest €2,7 bln in Moscow-Kazan high-speed railway

German Initiative, a consortium, which includes Siemens, Deutsche Bank, Deutsche Bahn and other companies, is ready to co-fund construction of a high-speed railway line between the Russian cities of Moscow and Kazan in amount of about €2,7 billion.

“Now the matter concerns investments in amount of €2,7 billion. However, funding isn’t the only condition. It is conditions on which the money are given that is important, as well as compliance with the rules of the production localization, necessity of state guarantees etc,” the first vice president of JSC Russian Railways, Alexander Misharin, told TASS news agency.

Mr Misharin stressed that these issues should be stipulated in the project of an intergovernmental agreement, which will be submitted by German Initiative until the 10th of November.

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