Siemens and Russian Machines Establish Joint Venture
Partners intend to take part in the invitation to tender for Moscow’s metro
New company will be headquartered in Moscow region
Siemens and the Russian industrial company Russian Machines Corporation, which is headquartered in Moscow, today agreed to establish a joint venture. The new company, in which both partners will invest a total of 160 million euros, is to be based in the region of Moscow and will employ up to 800 people. Siemens and Russian Machines aim to participate as joint partners in the invitation to tender for Moscow’s metro. The Russian capital wants to modernize its metro fleet and is planning to purchase more than 2,000 cars.