BRICS Bank Interested in Moscow-Kazan High-Speed Railway Line Project

VLADIVOSTOK (Sputnik) — The BRICS New Development Bank (NDB) is interested in the Russian Railways’ proposal to invest in Russia’s first high-speed railway line between the cities of Moscow and Kazan, NDB Vice President Zhu Xian told Sputnik on Thursday.

The Russian Railways state-owned company plans to construct a high-speed railway line worth some 1 trillion rubles ($20 billion) between the Russian cities of Moscow and Kazan, covering a 770-kilometer route.

“I confirm that Russian Railways asked us whether we are interested in financing this high speed railway. We will consider it, but now it is too early to say whether we will provide financing because we haven’t received detailed information yet,” he said on the sidelines of the upcoming 2016 Eastern Economic Forum, set to kick off in Russia’s Vladivostok on Friday.

The bank official added that a project of that scale would require additional sources of finance.

“For such a huge project I think that you need financiers, not a one can do all, you need different parties to do that. And also you need a sort of agreement from the government, both from Russian and Chinese governments, on what concession package you can put to the financiers and investors to consider,” the NDB vice president said.

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