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July 16, 2010

Siemens signs multi-billion euro Russian rail deal

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DURING the visit this week of German Chancellor Angela Merkel with Russian President Dmitry Medvedev, Siemens president and CEO Mr Peter Löscher signed agreements with Russian Railways (RZD) to upgrade marshalling yards and supply passenger trains. Both projects will involve the creation of a joint venture.
The first deal involves the modernisation of 22 marshalling yards by 2026 for which a joint venture will be formed with RZD and the All-Russian Railway Research Institute. The second agreement involves the production of 240 emus based on Siemens' Desiro platform but modified for the Russian market. This will entail the manufacture of 1200 cars in Russia by a joint venture to be set up with RZD's Aeroexpress subsidiary. Production of the trains will start in 2012 and continue for 10 years.
Siemens reached an agreement in May with Russian manufacturer Sinara to build 221 double-section electric freight locomotives in Yekaterinburg for RZD.

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