Siemens unveils 2-bln euro Russian railway deal

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The German industrial group Siemens said Wednesday 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 billion euros in the next 30 years.

© 2011 AFP

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