Italy's Finmeccanica signs 1.5 billion euro deal with Russia

26th November 2010, Comments 0 comments

Italian industrial giant Finmeccanica has signed a preliminary deal with Russian Railways estimated to be worth more than 1.5 billion euros (2.0 billion dollars), Finmeccanica said in a statement on Friday.

"Finmeccanica and Russian Railways have signed a memorandum of understanding in Rome for industrial development," the statement said.

Finmeccanica is set to provide technology for 100 railway stations, 100 trains and 50 railway lines by 2020 under the deal.

Finmeccanica owns a 25 percent plus one share in a Russian-led jet-building project, Sukhoi Civil Aircraft.

© 2010 AFP

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