The trains will be capable of traveling 250 kilometers an hour (155 mph), he said on Wednesday.

The new trains will cut the travel time between the two cities from more than five hours to three, according to the St. Petersburg Times. The project will cost at least $800 million, more than half of which will be contributed by Finland, the paper said.

More than one million Finnish tourists visit St. Petersburg each year, and the number of St. Petersburg residents visiting Finland has been growing, the paper said.

In 2002, more than 1.6 million traveled to Finland.

News source: edition.cnn.com
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