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Thursday, 26.05.2011
Siemens and Hyundai are planning to run the Moscow Metro
Moscow. Siemens and the South Korean hyundai Group are prepared to build not only new metro lines in russia, but also to run them, according to a press release. Siemens were not prepared to comment.
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Moscow city government plans are far reaching as ever: this year, three new metro stations are to be opened with an additional one scheduled for 2012. By 2017, a total of 82.5 km of underground railway tracks are to be laid. In comparison to Soviet times, when the building of the Moscow Metro was running at full speed, only an average of 8 km per year was achieved. Over the next five years the metro wants to renew all 64 escalators - and this while in full operation.
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ˆ14 billion needed for the modernisation of the metro
562 billion rubel (ˆ14 billion) are necessary for the modernisation, according to Vedomosti News, with 410 billion rubel (ˆ10,25 billion) to be funded by the city and 90 billion rubel (ˆ2,25 billion) through the budget. It will be necessary to find an additional source for approximately 70 billion rubel (ˆ1,75 billion), they claim.
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According to alexander Owanessow, partner of Strategy Partners Consulting Agency, the capacity of Russian businesses are not sufficient for the large underground construction project. It is therefore necessary to leave some parts of the Metro to concession holders, he concludes.
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Siemens and Hyundai are interested in building
Siemens and Hyundai declared their interest:"We are prepared to build up to 15km per year in Moscow", explained the head of Hyundai's Moscow office, Constantin Gologrudov. Hyundai has already gained experience in building subways in Seoul.
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"We are interested in delivering trains, but our portfolio includes also rail automation, electrification and automatic safety systems for subway stations", according to Siemens press office. No further comments were made by the technology group.
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Hyundai is prepared to build several new lines and provide funding through South Korean banks, announced Golgrudov. In return, the Koreans want to operate these lines, earning on ticket sales and the letting of shops in the metro stations.
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Metro operates in deficit
Up to now the Metro is purely an urban business. The ticket price is set byt he Moscow city government and is well below West European levels - currently 28 rubel (ˆ0,70) for a single journey (you can travel all day with it, as long as one does not leave the Metro).
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The Moscow Metro is considered to operate in deficit, billions from the city budget flow annually into the Metro. The only profit was made by the former boss of the Moscow Metro, Dmitri Gajev, who is accused of embezzlement.
The German text is here >>>
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