People‘s Daily reported that the China Railway Group Limited’ subsidiary, China Railway Eryuan Engineering Group Co. Ltd., has formed a consortium with two Russian companies. This consortium signed a 20 billion ruble ($390 million) agreement with the Russian Railways to design and construct a high-speed railway system from Moscow to Kazan.
The project is 770 kilometers (480 miles) long, with the highest speed being 400 km. per hour. It is the first overseas contract that the China Railway Group has won.
Sources:
1. People’s Daily Online, May 6, 2015
http://world.people.com.cn/n/2015/0513/c1002-26991896.html
2. People‘s Daily Online, May 6, 2015
http://usa.chinadaily.com.cn/epaper/2015-05/06/content_20637032.htm