Moscow-Kazan high-speed railway: The German Initiative consortium, whose members include Siemens, Deutsche Bank, Deutsche Bahn is getting ready to put around €2.7bn behind the Moscow-Kazan high speed railroad project, Russian Railways Vice President Alexander Misharin said this week. The terms of the financing are expected to be set out in an intergovernmental agreement and the consortium had promised to provide the draft document by tomorrow, he added.
Trains on the new railway will be able to reach speeds of 350-400km per hour, cutting the journey time between the two cities down from 14 to 3.5 hours. A new generation of trains capable of travelling at that speed are being developed by China, the head of China’s high-speed rail innovation program Jia Limin announced this summer, underlining Beijing’s ambitions to incorporate the new line into a $100bn northern spur of the Silk Road between the Chinese and Russian capitals. The total estimated cost of the Moscow-Kazan section of the line currently stands at just under $17bn.