The Russian Direct Investment Fund (RDIF), Germany's Siemens and the Ural High-Speed Railway partnership agreed on Friday to invest more than 300 billion rubles (over $4.5 billion) in the high-speed railway connecting the cities of Chelyabinsk and Yekaterinburg in Russia's Urals region, the RDIF announced
MOSCOW (Pakistan Point News / Sputnik - 15th February, 2019) The Russian Direct Investment Fund (RDIF), Germany's Siemens and the Ural High-Speed Railway partnership agreed on Friday to invest more than 300 billion rubles (over $4.5 billion) in the high-speed railway connecting the cities of Chelyabinsk and Yekaterinburg in Russia's Urals region, the RDIF announced."RDIF, Siemens Mobility, a division of the German concern Siemens AG for the production of railway equipment and trains, representing the German Initiative for the Development of High-Speed Railways in Russia consortium, and the Ural High-Speed Railway economic partnership agreed on the joint implementation of the project on the construction of a high-speed railway linking Chelyabinsk and Yekaterinburg," the fund said in a statement.
According to the statement, the construction will begin in 2021, and the railway is expected to become operational in 2025.
The agreement was signed on the sidelines of the Munich Security Conference.
The document stipulates investment of over 300 billion rubles in the construction of a double-track railway with the length of 220 kilometers (some 124 miles) and accompanying infrastructure. It will allow to reduce travel between two cities with population of over a million people each to 1 hour and 10 minutes.
