Russian-Chinese working group reviews “Eurasia” high-speed rail project

Russian-Chinese working group reviews “Eurasia” high-speed rail project

SHARE

The eighth meeting of the Russian-Chinese working group of enterprises on high-speed rail cooperation has been held in Beijing.

The Russian side was headed by Alexander Misharin, First Vice-President of Russian Railways, while Huang Ming, Deputy Head of the Chinese Railways Corporation, was in charge of the Chinese side.

The participants at the meeting considered the preliminary feasibility study and considered the Eurasia high-speed rail project, which envisages the creation of a high-speed freight and passenger transport corridor between China and the European Union.

The project’s preliminary feasibility study was prepared by OJSC High-Speed Railways, a subsidiary of OJSC Russian Railways, PricewaterhouseCoopers and the Centre of Infrastructure Economics, which was in turn commissioned by the Government of the Russian Federation.

“The degree of mutual understanding and support shown by the authorities of both countries with regard to the project is enabling us to resolve quickly key technological and organisational issues. Since the previous meeting we have managed to bring our positions on many issues closer together,” said Alexander Misharin.

In turn, Huang Minh thanked his colleagues for their constructive approach to the joint work.

According to preliminary calculations, the “Eurasia” high speed freight and passenger network will become the world’s largest rail transport project and will enable the unification of the largest high-speed transport systems in Europe and China. The project’s implementation will not only change the structure of transcontinental transportation and increase the competitiveness of railway transport, but will also create significant social, economic and agglomeration effects.

The railway will exceed 2,3000 km in length across Russia and run along the route from Krasnoe on the border with Belarus – Moscow – Kazan – Yekaterinburg – Chelyabinsk – Zolotaya Sopka at the border with Kazakhstan.

The various high-speed sections can be commissioned at different times.

The Chinese side acknowledged that the Eurasia high-speed rail concept was a promising large-scale project and expressed support for developing cooperation to study its economic and technical parameters.

The working group also recognised this project as part of the One Belt, One Road initiative, which will link the transport systems of China and Europe.

To unite efforts in this direction, the meeting participants agreed to establish a joint expert group.

Within the framework of the working group, consultations on the issues of financial participation of the Chinese side in the Moscow-Kazan high-speed rail project were also continued, which in future will become one of the sections of the Eurasia high-speed rail network.

The parties discussed the model of risk sharing between the project participants, the results of the negotiations on the project financing with Russian and international banks, international financing organisations, including the New Development Bank, pension funds and insurance companies.

In addition, the working group participants agreed on the principles to be applied in using innovative technologies and began to formulate its specifications.

The ninth meeting of the working group of enterprises on cooperation on high-speed rail projects will be held in Russia.