MOSCOW – The Government of Russia has approved the Meridian project, the first fully private national highway. It is the shortest route to move goods between China and Europe.
The prime minister, Dmitri Medvedev, approved the construction of Meridian, the federal route for Europe-Western China. The route is included in the comprehensive plan for the development and modernization of Russia’s infrastructure, reports the Vedomosti newspaper citing a record of the meeting with Medvedev on June 24.
Medvedev instructed officials from the Ministry of Transport and the Ministry of Economic Development to advise the project manager, the Russian Holding Company, on attracting investors, including from China. The ministers of Transport, Construction, Finance and Economic Development must provide all the necessary support for the project.
Russia has not yet built similar highways to Meridian: its length is almost 2,000 km, it will go from Belarus to China, passing through Kazakhstan, and it should create the shortest route to move goods between China and Europe.
The four-lane highway will be installed in the territory of eight regions of Russia.
The price of the trip for transporters from countries not belonging to the Eurasian Economic Union will be 70 cents per km.
The complete construction of the road is planned for 2024.
Meanwhile, the Russian Direct Investment Fund (RFPI) and China announced the creation of new Russian-Chinese funds at the St Petersburg International Economic Forum (SPIEF) that took place between June 6 and 8, the press the director of RFPI, Kiril Dmítriev, said.
“We will announce the creation of a new fund in yuans and also during the St. Petersburg Forum we will announce the launch of a new technological fund between Russia and China,” he said at the time.
Dmitriyev said the new fund in Yanes “will be geared towards investments in Russia.”
“We believe they can significantly increase Chinese investments,” said the director of RFPI.
He recalled that Russia and China have several joint funds and the two countries plan to “expand them all.”
In addition, “together with China we promote a series of important initiatives on investments in technologies and infrastructures,” he said.