Russia to invest USD 43 billion in Europe-Asia rail freight transport corridor

”Thanks to the implementation of infrastructure projects within the framework of the Eurasian Economic Union (EAEU), Russia claims 15 percent of the total cargo turnover between Europe and China”, Alexander Misharin first vice-president of Russian Railways announced.

The Russian government plans to invest USD 43 billion to upgrade its railway infrastructure in order to benefit from growing freight traffic between China and Europe.

”Russia can benefit enormously from freight between Europe and China, as many of Beijing’s rail shipments will cross the territory of the Eurasian Economic Union (EAEU)”, Alexander Misharin emphsised.

“Within the framework of the EAEU, we have the possibility of implementing major infrastructure projects in Russia worth 2.5 trillion rubles (USD 43 billion) in the next 5 years,” Misharin said.

According to him, the investment is meant for reconstruction and upgrading of Russia’s major transport projects such as the Baikal-Amur Mainline, the Trans-Siberian Railway and connectivity projects to the Baltic and Black seas.

Misharin also presented Russian Railways’ plans of building a high-speed rail corridor that will connect China, Russia, and Kazakhstan with a transport hub in Berlin. He added that Russian Railways signed a Memorandum of understanding with the Chinese government and the representatives of the Chinese Railways on February 28, which involves the creation of a 10,000-km high-speed corridor.

The Chinese part of the corridor, measuring 4,000 km has already been built. The first phase of the Russian part, which comprises of the Moscow-Kazan section, is yet to be built.

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