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.

“Siemens is the most successful foreign provider of rail technology in the Russian market. We want to further reinforce this role in the country. With Russian Machines, we have won one of the most renowned industrial companies in Russia as a partner,” said Jochen Eickholt, CEO of the Rail Systems Division at Siemens. “In cooperation with Siemens AG we plan to provide the city of Moscow with one of the most advanced rolling stock in the world. Moreover, we intend to localize the production of new-generation rail cars and thus create new jobs in the Moscow region”, said Siegfried Wolf, chairman of Russian Machines.

The contract is likely to be awarded to a bidder that can prove that value added is generated locally. To this end, Siemens and Russian Machines intend to establish local production operations in the greater Moscow region; these could cater for up to 80 percent of localization as of 2017 supported by the Siemens metro car plant in Vienna, Austria. In September 2013, Siemens and Russian Machines presented their first design study for the trains at the 4th International Rail Salon of Engineering and Technologies “EXPO 1520” in Moscow. The new generation of trains has been specially developed for Moscow’s metro and offers a combination of great comfort, higher capacity and maximum safety for passengers. In addition, the new models reduce power consumption and maintenance costs compared with the trains currently in use in Moscow.

The joint venture is to make a major contribution to modernizing Russia’s infrastructure and increasing industrial value added – two issues that Joe Kaeser, President and Chief Executive Officer of Siemens AG, and Russia’s President Vladimir Putin discussed intensively at a meeting in October 2013.

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