Russian Railways plans to expand its involvement in infrastructure projects in the BRICS
On 4 September 2017, Alexander Misharin, First Vice-President of Russian Railways, spoke at the session on Economic Connectivity at the BRICS Business Forum now being held in Xiamen in China.
“In the time since last year's BRICS summit, we have made significant progress in promoting joint projects in the field of railway transport. This opens up new opportunities for cooperation. A priority interest is being developed around major projects of an integrative nature, one of which is the Eurasia project,” said Alexander Misharin.
The first stage of the new high-speed railway will be the construction of the Moscow-Kazan section, which is currently being designed by a Russian-Chinese consortium.
“The project’s concept lays out a new form of high-speed traffic, focusing on the transportation not only of passengers, but also of freight,” said the First Vice President of OJSC Russian Railways.
Speaking of projects in the BRICS countries, Alexander Misharin reminded his audience that the Company had started to prepare a feasibility study on the modernisation of the 575-km Nagpur-Secunderabad railway line in India. It is now planned to implement the modernisation itself.
The First Vice-President of Russian Railways also said that the possibility of the Holding participating in Brazil’s rail development programme is being considered and directions for joint work with South Africa are under discussion.
In addition, Misharin said that one of the priorities for the development of cooperation between the BRICS member countries was the search for optimal mechanisms aimed at raising funds to implement infrastructure projects that require considerable capital.
The First Vice-President also announced that Russian Railways had submitted an application to the New Development Bank for co-financing for the Moscow-Kazan high-speed rail project.
A delegation of OJSC Russian Railways led by the company's President Oleg Belozerov is also taking part in the BRICS Summit in China.