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Business news, 08.12.2004 16:18

Spain to Fund Feasibility Report for Moscow-Petersburg Bullet Rail

Moscow-Petersburg express railway The Spanish government is ready to finance a feasibility report for construction of a Moscow-Petersburg "bullet" railway, Spanish Ambassador to Russia Francisco Javier Elorz Cavenct told on Tuesday to Russian Transport Minister Igor Levitin.

"The Spanish government is ready to sign an Agreement on appropriating 1,300,000 euros to conduct a feasibility report for the bullet railway," he said.

An idea of resuming construction of a Moscow-Petersburg express railway was voiced by Levitin for the first time last June. Then, the ministry studied the experience of several countries and carried out talks with South Korea, Japan and Spain. Finally, the choice was made in favour of Madrid, supplying more actively its railway technologies to Russia.

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