Sep 16, 2020
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A new financing option for the Moscow – St. Petersburg highway has been invented

The Ministry of Transport and Russian Railways are working on a new option for financing the construction of a high-speed railway (HSR) Moscow - St. Petersburg. It will reduce the nominal costs of the project from 1.7 trillion rubles to 1.4 trillion rubles. In the future, this high-speed rail should allow it to travel from the capital to the capital in 2 hours 15 minutes.

Previously, they wanted to give the entire line to the concession. The division of the project into three parts is now considered, reports the newspaper "Kommersant" citing a source.

Thus, the section Moscow - Kryukovo (42 km) is planned to be financed from the federal project "Development of the railway infrastructure of the Central Transport Hub". It will cost 221.5 billion rubles. The Obukhovo - St. Petersburg section (12 km) is estimated at 62 billion rubles. It is planned to build it at the expense of the Russian Railways investment program as part of the development of the transport system of St. Petersburg.

The longest section, Kryukovo - Obukhovo (630 km), is proposed to be included in a comprehensive plan for modernizing infrastructure with implementation under a corporate concession scheme. The state's participation in the capital of the project concessionary company will be limited to 50 billion rubles in one tranche in 2025. The previously planned share of state participation was almost five times more.

According to the alternative option, even less will get into the concession - 450 km for 950 billion rubles. Work for another 750 billion rubles will be included in the investment program of Russian Railways. The Ministry of Transport told the publication that "it is too early to comment on the details until the passport of the federal project is re-approved."

The head of Infoline-Analytics, Mikhail Burmistrov, in a commentary to the newspaper noted that, in essence, the estimate has not changed, but such a split increases the difficulty of attracting private investment. He also stressed that the transfer of part of the project to the investment program of the monopoly is fraught with additional indexation of tariffs in 2024-2026.

Previously wrote that the construction of a backup for the Dzhubga-Sochi highway and the project to move the railway infrastructure further from the Black Sea coast could be included in the new version of the comprehensive plan for the modernization of infrastructure (KPMI). Thus, the planned reconstruction can become a national project.

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