ST.PETERSBURG, June 16. /TASS/. Russia’s Transport Ministry will invite China to invest in the Hyperloop project in Russia, Transport Minister Maxim Sokolov told reporters.

"In a month we will have a meeting of our working group as part the intergovernmental Russian-Chinese Council. I will invite my colleague to consider this project (of a high-speed road Hyperloop between China and the port of Zarubino - TASS), in particular in terms of investments. Especially because we have a fund to support the Silk Road projects. I believe that this project may count on a 100% co-financing from this fund," he said.

The technology of Hyperloop high-speed trains invented by billionaire Elon Musk implies the maximum speed for land transport that exists up to date.

The minister added that the cost of a pilot section of the Hyperloop railway, which will connect China to Russia’s far eastern ports in Zarubino, is estimated at 30-40 billion rubles (455.4-607.2 million US dollars).

"Today we discussed this project with the company’s leadership under the aegis of Elon Musk. We agreed that we would offer a project for developing the Primorye-2 corridor - a 70-kilomerter-long section between China and the Primorye territory with an exit to Zarubino port - to the company as a pilot project. Colleagues claim that the infrastructure will be cheaper than the railway: the cost of construction of a 70-kilometer-long railway may vary from 30 to 40 billion rubles [455.4-607.2 million US dollars]," Sokolov said.