The Government of the Russian Federation decided not to allocate budget money for the project.
The St. Petersburg – Moscow high-speed railway will be built without state funding. The RF Government believes that Russian Railways has enough resources to finance the project without budget allocations.
The estimated project cost is 1.5 trillion rubles ($23.5 billion). Experts say that the railway will bring indirect profit, not only due to passenger transportation.
According to Dmitry Prokifiev, an economist, the new high-speed railway will take part of the passenger traffic from the existing rail, which will allow it to carry more cargo.
The high-speed railway for trains running at a speed of up to 400 km per hour is expected to be built in 2026. A ticket from St. Petersburg to Moscow is said to cost 3,400 rubles ($53).
Photo: St. Petersburg TV channel