Russian rail official: Chinese bidder competitive

A senior Russian official says the Chinese company bidding for the nation’s 2018 high speed rail project is competitive and well in the running. The official bidding begins next month. Speaking to CCTV, JSC High-Speed Rail CEO Denis Muratov says China’s experience in high speed rail construction is an asset.

Denis Muratov, CEO of JSC High-Speed Rail said "We are interested in working with Chinese partners, considering their experience in high speed rail constrction. China built rail roads with a total length of 12,000 kilometres in a short term. That’s absolutely a record."

The project has attracted bidders from five other countries, including Germany, France, and South Korea. The successful bidder will be in charge of railway maintenance and security in the 30 years after construction is completed. The total cost of the project is expected to reach about 20 billion US dollars, half of which will come from the federal government. The rest will be raised through bond issuance.

As host of 2014 Winter Olympics and 2018 soccer World Cup, Russia is putting its weight behind its infrastructure construction, with high speed rail as a major focus.