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Source: RussiaToday : Business : Billionaire will dig tunnel linking Russia & US

Russian billionaire Roman Abramovich has fuelled talk of a massive tunnel between Europe and America by forking out $160 MLN on the world’s largest drill. The 19-metre giant will be the first drill capable of boring a four-lane tunnel.

The project would link Russia’s far eastern Chutoka region, which Abramovich governs, with America’s Alaska.

Russia plans to build the world's longest tunnel, a transport and pipeline link under the Bering Strait to Alaska, as part of a $65 billion project to supply the U.S. with oil, natural gas and electricity from Siberia.

The project, which Russia is coordinating with the U.S. and Canada, would take 10 to 15 years to complete, Viktor Razbegin, deputy head of industrial research at the Russian Economy Ministry, told reporters in Moscow today. State organizations and private companies in partnership would build and control the route, known as TKM-World Link, he said.

A 6,000-kilometer (3,700-mile) transport corridor from Siberia into the U.S. will feed into the tunnel, which at 64 miles will be more than twice as long as the underwater section of the Channel Tunnel between the U.K. and France, according to the plan. The tunnel would run in three sections to link the two islands in the Bering Strait between Russia and the U.S.

This will be a business project, not a political one,'' Maxim Bystrov, deputy head of Russia's agency for special economic zones, said at the media briefing. Russian officials will formally present the plan to the U.S. and Canadian governments next week, Razbegin said.

The Bering Strait tunnel will cost $10 billion to $12 billion, and the rest of the investment will be spent on the entire transport corridor, the plan estimates.

The planned undersea tunnel would contain a high-speed railway, highway and pipelines, as well as power and fiber-optic cables, according to TKM-World Link. Investors in the so-called public-private partnership include OAO Russian Railways, national utility OAO Unified Energy System and pipeline operator OAO Transneft, according to a press release which was handed out at the media briefing and bore the companies' logos.

Russia and the U.S. may each eventually take 25 percent stakes, with private investors and international finance agencies as other shareholders, Razbegin said. ``The governments will act as guarantors for private money,'' he said.

The World Link will save North America and Far East Russia $20 billion a year on electricity costs, said Vasily Zubakin, deputy chief executive officer of OAO Hydro OGK, Unified Energy's hydropower unit and a potential investor.