Russian Railways and "German Initiative" sign Memorandum of Cooperation
Russian Railways and the German Initiative for the Development of High-Speed Railways in Russia have signed a Memorandum of Cooperation on the design, financing and implementation of the Moscow-St. Petersburg High-Speed Railway.
Oleg Belozerov, CEO and Chairman of the Board of Russian Railways, and Sabrina Soussan, CEO of Siemens Mobility GmbH, put their signatures to the document at the PRO//Movement Forum. EXPO in Shcherbinka in Greater Moscow.
The parties agreed to develop comprehensive cooperation in the field of design and consulting, production and supply of equipment, investment and financing in the implementation of the Moscow-St. Petersburg High-Speed Railway. It is assumed that the HSR project will be implemented on the basis of public-private partnership mechanisms.
The agreement provides for the localisation of technologies and the supply of equipment by joint ventures located in the Russian Federation, including in the field of rolling stock construction and the production of the necessary components.