Siemens Eyes Locomotive Venture with Russian Rail Company

Dec. 30, 2008
The joint venture would manufacture 200 locomotives per year.

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

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