Siemens and Hyundai propose concession company for Moscow metro construction

Siemens and Hyundai have made a proposal to Moscow’s government to form a concession company for underground construction. The company is not only to build the metro and supply the rolling stock but also get a concession for land plots.
April 20, 2012 Read time: 1 min
RSS189 Siemens and 1684 Hyundai have made a proposal to Moscow’s government to form a concession company for underground construction. The company is not only to build the metro and supply the rolling stock but also get a concession for land plots.

Some 82.5 km of underground railways, along with 64 escalators, are to be built in Moscow by 2017, while nearly 1,300 railways carriages are scheduled to be replaced. The project investments are estimated at nearly US$20 billion.

Hyundai representatives say they are ready to build up to 15 km of lines annually in Moscow and expect to participate in the design, too. The company says it may also arrange the funding and obtain loans from Korean banks.

Siemens says it is interested in supplying the rolling stock and is also an expert in railroad automation, electrification and safety automation system for underground stations.

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