Siemens retains an interest in the financing of the project HSR “Moscow-Kazan”

Siemens retains an interest in the financing of the project HSR “Moscow-Kazan”


ST. PETERSBURG, January 28. Siemens retains an interest in the project financing of high speed railway (HSR) “Moscow-Kazan”, said Thursday the CEO of Siemens in Russia and Central Asia, Vice-President of Siemens AG Dietrich Moeller.

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“We formed a “German initiative” and are interested in participating in different German companies. Siemens plays there, of course, an important role. This “German initiative” has offered to participate to some extent in financing this project,” said Moeller, confirming the preservation of the company’s interest in the project.

“The exact numbers we RZHD and partners have not yet agreed on, but it is clear that the entire project is estimated at one trillion. In this order, Siemens and the “German initiative” is ready to participate in it. Specific conditions to be agreed”, – said the representative of the company. He recalled that examines different schemes of project implementation, including the division into several sections with different funding.

According to Moeller, “the German initiative” includes a number of German banks, whose funds may be involved in implementation of the project.

“The financing scheme is not yet agreed upon, there are different approaches. It primarily depends on the Russian side. Such questions need to ask Russian Railways”, – said the representative of Siemens.

As previously reported with reference to the first Vice-President Russian Railways, General Director of JSC “highways” Alexander Misharin, Germany in the framework of the Association “German initiative” proposes to Finance the project HSR “Moscow-Kazan”.

“We have a proposal from our German colleagues about the signing of the similar (Russian-Chinese – approx. ed) of the Memorandum of cooperation, where they assume the obligation of funding up to 2 billion euros in a variety of conditions. We have not yet signed the Memorandum,” – said Misharin.

While there are funds for the first quarter of 2016: 5 billion rubles from the funds of Russian Railways and 100 million rubles from the Federal budget.

Russian Railways to discuss with China the establishment of a Fund for the development of the CSM on a parity basis, which will accumulate the Fund “silk road”, national funds and the contributions of Russian Railways. The Foundation “silk road” in the new structure will accumulate all Chinese investment in HSR “Moscow-Kazan”, including credit funds, which is planning to provide the China development Bank.

According to Misharin, to date, the total investment in HSR on the part of China is discussed at the level of about 500 billion roubles, including 400 billion in loans.