Bloomberg News

Russia Hasn’t Budgeted For World Cup Rail Links, Vedomosti Says

August 23, 2012

The Russian government hasn’t included in a budget any plans for the 2013-2015 expenditure on the high-speed rail links that the Kremlin pledged to build for the 2018 World Cup, Vedomosti reported, citing unidentified officials.

Spending on Moscow-Yekaterinburg and Moscow-St. Petersburg high-speed rail links, estimated at about 3.3 trillion rubles ($103.4 billion), isn’t included in the 5.6 trillion rubles investment program up until 2020 of state monopoly OAO Russian Railways, the newspaper reported.

Some 70 percent of the project should have been financed by the state, Vedomosti said.

To contact the reporter on this story: Ilya Arkhipov in Moscow at iarkhipov@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net


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