China and Russia step up high-speed cooperation

摘要

A memorandum of cooperation between China and Russia was signed in the Kremlin on May 9 which Russia's Tass news agency says will result in China investing Roubles 104bn ($US 2bn) in the Roubles 1 trillion Moscow - Kazan highspeed project. This is believed to be double the amount China had previously envisaged, and the investment would be made through a new special purpose vehicle company. The memorandum calls for cooperation in design, consulting, equipment supply, construction, investment and finance. It also allows the use of Chinese technology and equipment in high-speed trains and cooperation in their production, as well as accessing Chinese experience in the construction and operation of high-speed lines. The 770km Moscow - Kazan high-speed line will be implemented as a public-private partnership in the form of a concession.