Siemens said to secure major Russian rail deal
AFP · 13 Jul 2010, 16:21
Published: 13 Jul 2010 16:21 GMT+02:00
The €2.2-billion ($2.8-billion) sale of regional trains is the second major coup for Siemens in Russia this year. In May, a joint venture between Siemens and its Russian partner OJSC Sinara Transport Machines won a contract for 221 trains worth €1.1 billion.
Siemens chief executive Peter Löscher, who will be accompanying Merkel to Russia July 14 and 15, will sign the pre-contract with Russian Railways managers.
The Munich-based company has dramatically expanded its business in the Russian railway sector.
Last December, the Russian railway group RZD signed a €580-million order for up to 54 Siemens regional trains for the 2014 Winter Olympic Games in Sochi, a few days after a high-speed train built by Siemens began service between Moscow and Saint Petersburg.
Russia's railway service operates more kilometres of track than any other country in Europe, Siemens said.