Sinara Group, a Russian investment company with holdings in the property development, transport and financial services sectors, has agreed with the Chinese corporation CRRC on the establishment of a joint venture in the territory of Russia.
The new JV, „SINARA-CRRC Rail Transport” is intended to ensure the localization of the train production for high-speed railways. The corresponding document was signed following the results of negotiations between Russian President Vladimir Putin and President of the People’s Republic of China, Xi Jinping.
Apart from the production of high-speed trains, the enterprise will engage in the assembly of other kinds of railway technics as well.
At present, Sinara Group and Siemens company, jointly with Chinese CRRC, are already cooperating in the project for the creation of a freight train, able to transport goods at a speed of 400 km/h. A number of companies are working on the project, including Sinara, Siemens and CRRC.
One of the lines that the train will use is the USD 16.9bn high-speed link between Moscow and Kazan, which is due to be completed in 2022. The aim is to extend this 770km line to China, creating the first high-speed standard gauge link between the two countries.
A year ago, the two parties have agreed on the implementation of the project on joint production in Russia railway equipment, including various types of rolling stock railway transport, both passenger and freight, including the production of high-speed trains, capable of speeds over 300 km/h.