RUSSIA: On September 11 Russian Railways President Vladimir Yakunin and Mayor of Moscow Yuri Luzhkov signed an agreement establishing Moscow Railway Ring as an equally-owned joint venture of RZD and the city. The special purpose vehicle will be responsible for the development and funding of the 5bn rouble ring railway project.
An initial five stations will be opened on the 54 km freight ring line for the start of passenger services in 2010. Electrification and a further seven stations will be completed by 2012, along with separate freight tracks between Kozhuhovo, Cherkizovo, Likhobory and Kutuzovo. The project will be completed in 2015, with up to 100 passenger trains each way per day serving 30 stations.