Siemens, Russia Sign Wind, Rail Deals

Will modernize 22 railway switching yards and install wind turbines

Siemens on July 15 signed deals worth several billion euros envisaging the supply of regional trains and wind turbines to Russia, the company said.

Siemens chief executive Peter Loescher signed the memorandums of understanding in the Russian city of Yekaterinburg on the sidelines of a summit meeting between German Chancellor Angela Merkel and Russian President Dmitry Medvedev.

Under the agreements, Siemens is to modernize 22 Russian railway switching yards by 2026 and supply Russian Railways (RZD) with 240 regional trains over the next ten years.

Siemens is also to install wind turbines with a total capacity of up to 1,250 megawatts in Russia by 2015, it added.

The deals have a total value of several billion euros, Siemens said, without giving further financial details.

German government sources have reportedly said the railway deal alone is worth 2.2-billion-euro (US$2.8 billion).

Copyright Agence France-Presse, 2010

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