The Economy

Siemens Unveils $2.8 Billion Russian Railway Deal

June 1, 2011

Will deliver 240 regional trains

Industrial group Siemens said on June 1 that it will build two billion euros ($2.8 billion) worth of trains for Russia with its local partner Sinara.

A joint venture dubbed Train Technologies is to deliver a total of 240 regional trains under a preliminary deal that has been ratified by Russian officials, a Siemens statement said.

They are to be built in Russia starting in 2013.

Siemens said it estimates investments in the Russian railway system to be worth a total of 300 (US432 billion) billion euros in the next 30 years.

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