Russia invites China for high-speed rail cooperation

As Russia expands its railway construction, China could enjoy greater cooperation potential with Moscow in the sector, especially on high-speed rail projects, says the president of the state-run Russian Railways company.

Vladimir Yakunin said that based on China’s rich experience in railway construction and the mature mechanism of technology exchange between the two countries, China would have good chances of winning in the public bidding on major Russian railway projects. Those projects include the Moscow-St. Petersburg high-speed railway, the first in Russia.

Meanwhile, Russia is working on the overall blueprint for a national high-speed rail system before the 2018 FIFA World Cup, Yakunin said.

According to local media reports, the Russian Railway has announced it will invest $30 billion to build high speed railways. Yakunin said all of the high-speed railway projects in Russia would be open for public bidding.

He also said that because Russia has outlined its railway transport development strategy to the year 2030, advanced railway equipment and technology from China and other countries will be needed. Besides, Chinese investors are also welcome to join the privatization of the Russian Railways company, which is planned to sell part of its shares starting from 2013, Yakunin said. <Korea Shipping Gazette>