Putin visits international jazz festival in Crimea’s KoktebelSociety & Culture August 21, 2:31
Militants launch shell on exhibition complex near Damascus - televisionWorld August 20, 15:27
Cardinal Parolin: Dialogue of Roman Catholic and Orthodox Churches to help them feel unitySociety & Culture August 20, 8:27
Polina Dibrova, mother of three, wins Mrs. Russia 2017 beauty pageantSociety & Culture August 20, 4:41
Russian emergencies ministry plane returns from firefighting mission in ArmeniaWorld August 20, 4:39
East Ukraine conflict claimed nearly 3,000 civilian lives — ICRCWorld August 20, 1:56
Renowned Russian filmmaker Andrei Konchalovsky turns 80Society & Culture August 20, 0:48
One of seven injured in Surgut stabbing spree in critical condition — authoritiesSociety & Culture August 19, 23:51
Netanyahu expects to meet with Putin in Sochi on August 23 — Israeli premier’s officeRussian Politics & Diplomacy August 19, 22:47
MOSCOW, February 1 (Itar-Tass) - Russian industrial corporation Russian Machines and Siemens signed documents Friday to set up a joint venture (JV) that will partake in a tender for new rolling stock supplies to Moscow's metro, the companies said in a joint news release. Investments in the project are planned at $160 million.
The new company’s headquarters is to be located in Moscow.
The tender was announced as Moscow authorities are going to modernize metro rolling stock and buy more than 2,000 coaches. A future manufacturer's location in Russia may be one of the competitive edges, goes the release. If the partners win the tender, production will start at a site in the Moscow Region.
By 2017 the JV is planned to achieve a localization of 80 percent with support from Siemens’ carriage plant in Vienna.