Support The Moscow Times!

Sberbank to Invest Up to $3Bln in New Transportation Hubs

Sberbank has signed an agreement with RZD-Passenger Station Development, a subsidiary of Russian Railways, for the joint development of transportation hubs in Moscow and the Moscow region, Vedomosti reported Monday.

Sberbank will invest up to 100 billion rubles ($3 billion) for building and maintaining transportation hubs to adapt to Moscow's ever-increasing passenger traffic.

Passenger traffic in the capital's transportation hubs should double by 2025, rising to 1.6 billion people a year. RZD-Passenger Station Development plans to build 64 new transportation hubs, including 57 in Moscow.

Total investment in the project in the city alone could reach 1.1 trillion rubles by 2020.

All projects are still at a conceptual stage and their date of completion remains unclear.

Read more