--Industrial giant Siemens and a consortium of other German companies hope to participate in building a new high-speed railway connection between the Russian cities of Moscow and St. Petersburg, German business newspaper Handelsblatt reports.

--The consortium around Siemens and the Russian railway company signed a nonbinding letter of intent according to which the German companies will help with the planning and construction of the route, Handelsblatt reports.

--The railway project will cost around 20 billion euros ($22.14 billion), according to Handelsblatt.

Full story (in German): https://bit.ly/2ZqiJwf

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(END) Dow Jones Newswires

August 30, 2019 03:18 ET (07:18 GMT)

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