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German Initiative High-Speed Mainline Offer to RZD
July 22, 2016
The Kommersant published details of the German offer for the Moscow - Kazan high-speed railway. In particular, the German Initiative Consortium offering HST technologies to Russia is ready to enter the OAO RZD capital and attract over 2 B EUR from Euler Hermes export agency.
On July 6 OAO RZD management met with Dr. Dietrich Möller, Siemens President - Russia & Central Asia, to discuss “opportunities of offering loans by German financial organizations - starting with 1.5 B EUR for infrastructure construction and with 700 M EUR for rolling stock acquisition”.
Furthermore, OAO RZD got a letter from Dr. Jochen Eickholt, Siemens Mobility CEO. Under the letter, German Initiative is ready to offer over 2 B EUR through Euler Hermes, enter the concessioner company capital, ensure technology transfer and rolling stock manufacture localization.
The offer is applicable only for the second part of the Moscow - Kazan line - from Nizhny Novgorod to Kazan. Just as the Chinese offer, 501.4 B RUB (7.87 B USD) is to be offered with 75 B RUB (1.18 B USD) being the concessioner’s joint stock capital; the balance is to be a loan. The Kommersant’s source commented that OAO RZD is now in discussions with German Initiative. OAO RZD refused to comment on the subject.