Investor boost for Moscow Metro brings new line and less gridlock
The Chief Executive of the Moscow Metro Igor Besedin says negotiations are underway with a Spanish investor. The companies are interested in developing both underground and above ground with retail and other services offered to passengers.
The first private line with 9 stations stretching 19 km would be the longest subway line built in recent years. Its cost could be about $3.2 billion, according to the Russian consulting firm FBK. The new line leading from Aviamotornaya station to Lyubertsy fields should be completed by 2015.
Moscow has a serious traffic problem, and authorities think a new subway line will help reduce the gridlock.
Currently the city has 300km of underground railway split across 12 lines with 182 stations. About 7 million people use the Moscow Metro every day.
Moscow Metro system has no privately owned lines yet, but the Mykinino station in the west of Moscow was built by a private investor.
Private subway lines are common in big cities all over the world. Private lines operate in Tokyo and in London.