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

Independent journalism isn’t dead. You can help keep it alive.

As the only remaining independent, English-language news source reporting from Russia, The Moscow Times plays a critical role in connecting Russia to the world.

Editorial decisions are made entirely by journalists in our newsroom, who adhere to the highest ethical standards. We fearlessly cover issues that are often considered off-limits or taboo in Russia, from domestic violence and LGBT issues to the climate crisis and a secretive nuclear blast that exposed unknowing doctors to radiation.

Please consider making a one-time donation — or better still a recurring donation — to The Moscow Times to help us continue producing vital, high-quality journalism about the world's largest country.