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Cooperation Agreement With China Railway Construction Corporation and China International Fund Signed as Part of Moscow

  Cooperation Agreement With China Railway Construction Corporation and China
  International Fund Signed as Part of Moscow Government Visit to China

     Mayor of Moscow Sergei Sobyanin Leads Delegation to China Fostering
  Sino-Russian Financial Ties and Promoting the New Moscow City Development

Business Wire

BEIJING -- May 19, 2014

The Moscow Government today announced the signing of an agreement (the
“Agreement”) between JSC “Mosinzhproekt”, China Railway Construction
Corporation and China International Fund, to mark the start of Moscow Mayor
Sergei Sobyanin’s three day visit to Beijing, Shanghai and Hong Kong. The
visit aims to strengthen bi-lateral financial cooperation between Moscow and
the three respective Chinese cities, and promote significant urban and
infrastructure development opportunities created by the “New Moscow” project.

Marat Khusnullin, Deputy Mayor of Moscow for Urban Development and
Construction (Photo: Business Wir ...

Marat Khusnullin, Deputy Mayor of Moscow for Urban Development and
Construction (Photo: Business Wire)

The Mayor is also part of the Russian President Mr. Vladimir Putin’s
delegation to Shanghai on 20 May, to participate in high-level meetings with
their counterparts in China. The delegation is meeting with senior
politicians, business leaders, top management of major corporations, and also
strategic investors from China and Hong Kong, aiming to foster ties and expand
long-term collaboration between Russia and China. This comes at a time when
Russia is drawing larger amounts of foreign investment from around the world,
and Moscow is becoming one of the country’s key recipients.

The Agreement, which was signed on behalf of JSC “Mosinzhproekt” by Deputy
Mayor Marat Khusnullin, who is also Head of Urban Development and
Construction, outlines construction plans for a major underground
transportation network initiative – the new South-West metro line, which is a
key part of the "New Moscow" urban development project. “New Moscow”, which is
an ambitious construction and infrastructure project that aims to double the
size of the city, has already received US$4 billion worth of investment since
its approval in 2012 and is expected to attract over US$200 billion by 2035.

The Mayor of Moscow, Sergei Sobyanin said, “Moscow is one of the largest
megapolises in the world with enormous growth potential. The “New Moscow”
project involves development of a large territory: the establishment of new
centres of economic growth, the redevelopment of road network and
modernization of transport infrastructure as well as creation of new parks and
recreational spaces. The project will not only improve the city’s efficiency
and environment, stimulate employment with all modern social infrastructure in
place, but also create attractive opportunities for foreign investments and
will strengthen economic cooperation between our countries.”

Commenting further, Deputy Mayor Marat Khusnullin said, “The new South-West
metro line will engage global expertise and create a significant number of
additional jobs within the Moscow area. This exciting initiative is a
significant step forward for the city and a core part of the New Moscow
project.”

“New Moscow” is a territory with a total area of 148,000 hectares, located in
the south-west of the capital. It was attached during the territorial
expansion of the city in 2012 under the title “Greater Moscow”. This urban
project is comparable to “Greater Paris”, a project that is essentially the
accession to the capital of surrounding suburbs, and formation of a single
agglomeration.

The attachment of new suburbs requires an ambitious redevelopment of the
existing transport infrastructure. One of the core redevelopment projects is
the construction of a new underground Metro line in the southwest of the
capital. The new line will extend from the station of the Third Interchange
Circuit “Ulitsa Novatorov” to “Stolbovo”. The estimated length of the line
will be 14.9 km and it will accommodate six stations.

About the companies:

JSC “Mosinzhproekt” – state-owned company responsible for managing the
construction of 79 stations and 48 interchanges in the Moscow Underground
Metro system, the reconstruction of the main arena of the FIFA World Cup 2018
- Arena «Luzhniki», the general designer of the reconstruction of 12 highways
in Moscow. The company is recognized as a leader in the domestic construction
industry, as well as the most dynamic company in Russia (by the rating agency
«Expert»).

China Railway Construction Corporation Ltd (CRCC) – one of the largest
construction group of companies occupying the 11th place in the ranking of
«China’s top 500 enterprises», ranked 1st of «The Top 250 global contractors»
(2013) and included in the first hundred construction companies («The world’s
top 500», 2013). The company has vast experience in design and construction of
infrastructure, being one of the biggest designers in China and abroad.

Photos/Multimedia Gallery Available:
http://www.businesswire.com/multimedia/home/20140519006201/en/

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Contact:

RLM Finsbury
Karen Yu, +852 3166 9866
m: +852 6129 7050
karen.yu@rlmfinsbury.com
or
Alastair Hetherington, +852 3166 9878
m: +852 9086 0478
alastair.hetherington@rlmfinsbury.com
 
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