Initial Financing Provided by VEB.RF to Manufacture Moscow–Saint Petersburg High-Speed Railway Trains

VEB.RF has provided initial financing for the large-scale production project to manufacture trains for the Moscow–Saint Petersburg high-speed railway.

The first tranche of approximately 7 billion roubles was disbursed to finance the general contract agreement.

The Supervisory Board of VEB.RF had previously approved the terms of VEB.RF’s commitment of up to 33.915 billion roubles in the project for 14.5 years.

The production of high-speed trains is to begin in 2027, with large-scale production starting in 2028. The project is being implemented by Ural Locomotives. The project budget is about 43 billion roubles. The loan will be obtained on special terms through the Cluster Investment Platform mechanism.

VEB.RF also ensures the fulfilment of rolling-stock supply contracts under the Moscow–Saint Petersburg high-speed railway project, with about 52 billion roubles in performance guarantees issued by VEB.RF.

The high-speed electric train production facility with a total area of 60,000 square metres is currently under construction at the Ural Locomotives site in Verkhnyaya Pyshma.

The electric train is designed to travel at a maximum speed of 400 kilometres per hour; passenger services are to start in the spring of 2028. The travel time between Moscow and Saint Petersburg is estimated at 2 hours and 15 minutes. The project involves supplying 43 high-speed trains.

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