Xi Jinping & Vladimir Putin
Russian Prime Minister Dmitry Medvedev has given official approval to a new 2,000 km (1,250 mile) tolled motorway across Russia, according to the Vedimosti business newspaper. The privately funded four-lane Meridian Highway will run from the northwest border of Kazakhstan, across some of Russia's most deprived areas, exiting the country near the city of Smolensk near the Belarus border.
It was reported that work has already begun at the eastern end of the road near the Sagarchin Russia-Kazakh border crossing.
The €8.1bn project, estimated to take between 12 and 14 years to complete, is seen as an important part of the 8,000 km (5,000 mile) corridor linking Shanghai, China to Hamburg, Germany, and is part of Chinese President Xi Jinping's ambitious Belt and Road Initiative (BRI).
Meridian Highway
The BRI, launched by President Xi in 2013, is a 21st century rebirth of the ancient Silk Road network of trade routes connecting the Far East, Middle East and Europe. The project has given rise to the development of road and rail networks and other transport infrastructures in various different nations, with investments and agreements having taken place in 152 countries, including many in Europe such as Hungary, Serbia and Greece. The only G7 member to have signed a memorandum of understanding on the BRI is Italy.
Russian President Vladimir Putin has given his backing to the BRI saying that it would strengthen the "constructive cooperation" of the Eurasian states and will ensure sustainable growth and economic development in the participating countries.
The project was first put forward by former Gazprom chairman Alexander Ryazanov whose company Russian Holding already owns around 80% of the land through which the Meridian Highway would run. There were also reports that Russian Holding would be assisted in securing investment for the project, possibly from China, by Prime Minister Medvedev's office.
Given that tolls will be charged for trucks and cars, as well as the large capacity of the highway, the project is expected to break even in 12 years.
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