Thursday, May 27, 2010

Siemens, Russian Railways form joint venture

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Russian Railways, Siemens AG, and Russia's Aeroexpress signed a Memorandum on Production, Supply and Servicing of Modern Russian Trains on Wednesday in Sochi, Russia, site of the next Winter Olympics in 2014. 



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The joint venture will produce new-generation Desiro RU Selectric trains with asynchronous traction drive. These trains will be built by a joint venture in Russia, based on the Olympic electric trains that Siemens will supply to Russian Railways in 2012-2013 under a contract signed between the two companies in December 2009.

Serial production of the modern electric trains is set to begin at the joint venture in 2014, and the share of associated parts and components of the train produced in Russia is anticipated to reach 80% by 2017. The joint venture plans to reach production capacity of 200 vehicles per year.

Russian Railways President Vladimir Yakunin signed on behalf of the railroad; also signing were Hans-Jörg Grundmann, executive director of Seimens Mobility and vice president of Siemens AG, and Aeroexpress board member Maxim Liksutov.

Moscow-based Aeroexpress Ltd. provides air-to-rail links in several locations within Russia; Russian Railways owns 50% of the company.