Russian daily Kommersant outlines the details of a German proposal to construct the Moscow-Kazan high-speed railway line. The consortium of German companies that includes Siemens promised to invest in the concessionaire’s equity and provide more than EUR 2 billion in export credit financing. Total investment required to complete the second leg of the Nizhniy Novgorod-Kazan railway is estimated at 501.4 billion rubles (USD 7.8 billion), of which 75 billion rubles (USD 1.17 billion) should be invested in the form of equity.
The German consortium competes with a Chinese bid.