Wednesday, August 16, 2017

Russian Railways high-speed rail demonstration draws 150 companies

Last week, Russian Railways announced that 150 Russian and international companies participated in the high-speed rail conceptual demonstration in Moscow.

In total, 400 participants representing 150 companies from across the financial, industrial, technology and construction sectors attended the demonstration last week.

Delegates from the European Bank for Reconstruction and Development, UBS, Deutsche Bank, Fitch Ratings, Sberbank, the Eurasian Development Bank, the Russian Direct Investment Fund, VTB, Gazprombank and Non-State Pension Fund constituted a large portion of the representatives from the financial sector.

A group from Skorostnye Magistrali, a subsidiary of Russian Railways, was on hand to interact with participating technology companies to help contextualize the advancements made in high-speed rail travel.

"This is the first major infrastructure project in Russia's railway industry which is being implemented through a public-private partnership," Russian Railways First Vice President Alexander Misharin said at the event. "For the first time in modern railway construction, we are using the concession mechanism, which should contribute to an effectiveness interaction of all the participants in the project."

Russian Railways is already at work preparing a second collaborative demonstration event, which it hopes will draw the attention of even more businesses.

"We support the project and understand its contribution not only to the organization of transportation links and improving transport accessibility, but in general to the country's overall economic development," said Russian Deputy Transport Minister Alexei Tsydenov.