High-speed rail deal part of agreements worth $10 billion

China will take a decisive stake in the next stage of Russia's transportation development, with Chinese companies building the country's first high-speed rail line. The agreement formed part of joint deals worth $10 billion being signed on Monday.

Chinese firms and their Russian partners will hold talks on design, financing, supplying facilities and construction of a 770-km high-speed line connecting Moscow and Kazan, an important metropolis on the Volga River.