Russia's RDIF, Germany's Siemens to invest $4.5 bln in rail link

Reuters, 15.02.2019

MOSCOW, Feb 15 (Reuters) - Russia's RDIF sovereign wealth fund and a unit of Germany's Siemens have agreed to invest over 300 billion roubles ($4.5 billion) in a high-speed rail link between the Russian cities of Chelyabinsk and Yekaterinburg, RDIF said on Friday.

The deal was signed by RDIF and Siemens Mobility on the sidelines of the Munich Security Conference, RDIF said. Construction will start on the railway line in 2021, it said in a statement.

A Siemens spokesman said that the two sides had signed a non-binding memorandum of understanding on the German company becoming a technology partner for the project.