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Siemens said to secure major Russian rail deal

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Siemens said to secure major Russian rail deal
Siemens already supplies Russia with high-speed trains. Photo: DPA
16:21 CEST+02:00
German industrial group Siemens has won a major contract from Russian Railways to be signed during a visit by Chancellor Angela Merkel this week, government sources in Berlin said Tuesday.

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.

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