Russian Rail Taps Banks on Kazan Route as Costs Hit $33 Billion
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OAO Russian Railways is seeking bank funding for a 1.1 trillion-ruble ($33 billion) high-speed rail line linking Moscow with the soccer World Cup venue of Kazan, even as the government questions the route’s feasibility.
Russian Railways is in talks with state banks VTB Group, OAO Sberbank, ОАО Gazprombank and Vnesheconombank, as well as the Kremlin-backed Russian Direct Investment Fund, Alexander Misharin, its first vice-president, said in an interview.