Technicians work at the Liaoning section of a high-speed railway in Northeast China's Liaoning province, June 17, 2017. [Photo/Xinhua]

Shanghai-listed China Railway Group Ltd, an infrastructure construction company, will build a high-speed railway in Russia connecting the country's third-largest city Yekaterinburg with Chelyabinsk, China Daily reported, citing a memorandum of understanding.

The MoU, which was signed by the Chinese company and Ural Highway during the Fourth China-Russia Exposition held between June 15 and 19 in the northeastern Chinese city of Harbin, showed that the project will involve a total investment of $2.5 billion.

The high-speed railway line will cut the current travel time between two cities to about one hour and 10 minutes from five hours, according to China Railway Group Ltd.