The proposal supersedes earlier plans to build a 762km high-speed line from Moscow via Nizhny Novgorod to Kazan.
According to Kommersant, the cost of the new project is estimated at Roubles 2.3 trillion ($US 35.9bn) of which Roubles 1.65 trillion is for the 659km St Petersburg - Moscow section and Roubles 530bn for the 421km section to Nizhny Novgorod. To keep costs down, high-speed trains will operate over existing tracks to reach the centres of Moscow and St Petersburg.
RZD said in August that the Moscow - St Petersburg section will be based on a public-private partnership (PPP) with a concessionaire appointed to implement it.
Under the plan, RZD envisages grants and loans of around Roubles 600bn to the concessionaire and issuing green bonds worth about Roubles 300bn for the Moscow - St Petersburg section. Annual operating costs are estimated at Roubles 47.2bn.
It is envisaged that the Moscow - Nizhny Novgorod line would open first in 2024 and would carry 16.8 million passengers a year. Opening of the Moscow - St Petersburg section would follow in the fourth quarter of 2026. Traffic is estimated at 30.6 million passengers a year, with the Sapsan high-speed service continuing to operate on the conventional line between the two cities.
RZD chairman of RZD, Mr Oleg Belozyorov, and the CEO of Siemens Mobility, Ms Sabrina Susson, signed a memorandum of cooperation on August 28 regarding the Moscow - St Petersburg high-speed project. The agreement covers design and consultation, production and supply of equipment, and investment and financing.
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