RZD Requested 70 M USD Federal Funds for High-Speed Railway Design in 2017

OAO RZD requested 4.6 B RUB (70.7 M USD) from the federal budget for Moscow - Kazan high-speed mainline design, the TASS quotes RZD First Vice President Alexander Misharin. The funds are requested for 2017.

“We have requested the missing amount for the next year”, Mr. Misharin said. “It all depends on funding this year but the request for the next year is 4.6 B RUB”.

Earlier Mr. Misharin was saying that the design activities on the Moscow - Kazan HST design is to be reduced by 10%. The total amount of the design contract was announced at 20 B RUB (307.3 M USD), VAT excl.; therefore, the final amount is to potentially be down to 18 B RUB (276.6 M USD).

The actual final amount is to be defined until end-2016.