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Siemens bags railcar order
4 June 2011: Siemens has formed a JV with its Russian counterpart Sinara Group to supply 240 train sets (1,200 cars), worth Euro 2 billion (approx Rs 12,900 crore) to the Russian Railways (RZD).
Siemens and RZD had agreed on a partial train production in Russia. The Siemens plant in Krefeld has started producing the first 38 of the trains –Desiro RUS model of Siemens – in Germany. The joint venture with Sinara Group will now facilitate the production of the balance of 16 trains in Russia.
Starting 2013, the trains will be produced at a manufacturing facility close to Yekaterinburg. Initially, the joint venture will produce the 16 trains that were part of the 54 railcar order awarded to Siemens by RZD in 2009.
Source: Hindu Business Line