Siemens said on Dec. 30 that it is seeking to create a joint venture with the Russian state railway company RZD to build electric locomotives.
Siemens boss Peter Loescher and Russian counterpart Vladimir Yakunin have signed a letter of intent and hope to finalise a deal in the coming months..
The joint venture would manufacture 200 locomotives per year.
Russia plans to extend its rail network with investments of around 360 billion euros (US$510 billion) by 2030, Siemens said.
Copyright Agence France-Presse, 2008