The project is expected to be a link in the Moscow to Kazakhstan high-speed line, and to be extended to China.
Last year China Railway Group, whose name is often shortened to CREC, the acronym of its parent company China Railway Engineering Corporation, signed overseas contracts worth $15bn, a rise of 50% on the previous year, according to the firm’s annual report. In the first quarter of 2017, newly signed overseas contracts reached $2.3bn and net profit increased 15% to $380m compared with the same period in 2016.