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October 14, 2014

China to build Russia’s first high-speed line

China is to build Russia's first high-speed railway line under an investment agreement signed by the two countries.

By Samseer M

China is to build Russia’s first high-speed railway line under an investment agreement signed by the two countries.

In collaboration with Russian firms, Chinese railway companies will build a 770km high-speed line between Moscow and Kazan.

The agreement involves National Development and Reform Commission of China, Russia’s Ministry of Transport, China Railway Corporation and Russian Railways (RZD).

China’s Foreign Ministry spokesman Hong Lei was quoted by TASS Russia News Agency as saying: "Russian-Chinese cooperation is mutually beneficial. It is based on mutual trust and is not directed against third countries."

"Russian-Chinese cooperation is mutually beneficial. It is based on mutual trust and is not directed against third countries."

The Moscow-Kazan high-speed line comes under the Moscow-Beijing railway project which aims to construct 7,000km-long railway that connects Russia, Kazakhstan and China.

The 770km line spanning six Russian regions will reduce the travel time between Moscow and Kazan in the Republic of Tatarstan, from 11.5hr to 3.5hr. The trains will travel at a speed of 400km/h, reported China Daily.

The railway project is one among the 39 agreements being signed during Chinese Premier Li Keqiang’s visit to Russia.

Want China Times reported that the other projects signed during the meet include the co-development of aircraft and heavy helicopters, exploration of two natural gas fields, construction of a new natural gas pipeline and a part of the facilities at a Chinese nuclear plant, and expansion of Russia’s Zarubino port among others.

The countries have also signed a currency swap agreement that allows the exchange of JPY150bn ($24.4bn) and RUR815bn ($20m) between the central banks of China and Russia.

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