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6/7, 6:45 PM (Source: TeleTrader)
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Siemens inks €1.1B deal with Russian Railways

Siemens AG will deliver 13 high-speed trains to the Russian Railways from September 2022 to July 2023 from €513.5 million and service them for €583.1 million, according to an agreement signed on Friday, together with Russian investment company Sinara Group.

Russia's state-owned railway company said it will work with Sinara to create an innovative engineering center, for which Siemens will be a partner. The first project of the center will focus on high-speed trains, as the three parties vow to cooperate on "innovative railway rolling stock and its production in the Russian Federation," including "electric trains with speeds up to 400 km/h."

The deal was signed at the Saint Petersburg International Economic Forum.

Breaking the News / NI