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2015, 2 APR
Beijing pitches US$5.2bn toward Russia's first high-speed railway
Beijing plans to invest 300 billion Russian rubles (US$5.2 billion) to build Russia's first high-speed rail line between Moscow and Kazan, reports the Xinhua publication Reference News. 

China reportedly proposed the investment to Alexander Misharin, first vice president of Russian Railways, in a meeting during the Boao Forum for Asia in Hainan. Chinese officials suggested the two countries form a joint venture for the rail line, each taking a 50% stake. Around 50 billion rubles (US$860 million) of the investment will be equity payment made by the Chinese company responsible for the project. Chinese banks will lend the remaining 250 billion rubles (US$4.3 billion) to Russia for 20 years. 

The 770km-long rail line linking five regions in Russia — Moscow, Vladimir, Nizhny Novgorod, Cheboksary and Kazan — would reduce the travel time from 11 and half hours to around three and a half. Many European and Chinese companies have shown interest in the project.