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High-speed PENDOLINO train to be delivered to Russia for tests in the second half of 2006. |
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Vladimir Yakunin (president of Russian Raiways) said that the Pendolino was designed for the high-speed line between Saint Petersburg and Helsinki and that traffic would be organised on the existing infrastructure, but that this would require diverting freight traffic and constructing a 42-kilometer stretch through the Priozersky district of Leningrad region to the Finnish border at a cost of 400 billion roubles (at current prices).
The decision was made on March, 10 2006 by Mikhail Akulov, Vice-President Russian Railways, and Tapio Simos, the Executive Director of VR-Group Ltd to establish a joint venture. The parties signed a protocol of intent and determined that the primary function of the jv is to buy equipment to make trips between Saint Petersburg and Helsinki and technical support for this equipment.
The joint venture will be registered in the second quarter of this year. The founding documents will be examined by the management of Russian Railways on May 24 before being presented to the board of directors for approval. Ruyssian Railwayx expects the joint venture to begin operations in the third quarter of 2006. A tender will be announced for the purchase of the equipment.
Source: Press Release
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