Russian Railways is planning to float a €600m bid later this year to build a high-speed rail link between Moscow and St Petersburg, which is expected to be operational ahead of the 2018 Football World Cup.

The project includes installation of electricity supplies and rebuilding of roads.

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The bids for the rail line will be offered in August 2012, according to Businessweek.

The state-owned rail company is planning to issue infrastructure bonds to help fund the project.

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