Financing mapped for Moscow-St Petersburg HSR
Rather than a 50-50 split, project funding would be split between the government and private investors 70-30, with the base funds to be allocated within four and a half years, according to general director of Russian Railways subsidiary High-Speed Rail Lines Denis Muratov said.
The 660km track will link Moscow and St Petersburg with trains running at speeds of up to 400km per hour. Construction is set to begin in 2013 and last until 2018, in time for the 2018 FIFA World Cup football tournament. The plan must now be approved by the government and the Transportation Ministry.
The scheme is a high priority for the government. At the end of April, then Prime Minister Vladimir Putin said that 5 trillion roubles ($161bn) would be allocated over 10 years for railway infrastructure development.