Investor boost for Moscow Metro brings new line and less gridlock

Investor boost for Moscow Metro brings new line and less gridlock
For the first time Moscow Metro management is looking to attract private investors to build a new subway line in the east of the city. Several Russian and foreign companies are already lining up to take part in a project.

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.