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Russian Railways (RZhD) and Siemens intend to sign a contract
Russian Railways (RZhD) and Siemens intend to sign a contract on production of new-generation high-speed electric trains in April. As the RZhD press release, received by RIA Novosti on Friday, reads, the accord to this effect was reached on March 10 at the Moscow meeting between president of OAO RZhD Gennady Fadeyev and president of the Siemens - Transportation Systems company Hans M. Schabert. The structure of the forthcoming contract was discussed at the meeting. In the opinion of the OAO RZhD top officials, an obligation by Siemens to place the production capacities at Russian enterprises is a condition of principle for concluding the contract. "OAO RZhD also insists on gradual Russification of production: in Mr. Fadeyev's opinion, the Russian suppliers must master from 30% of the train's prime cost in 2007-2008 to 80% in 2015," the press service reports. The RZhD head also noted that Siemens and Russian industrial plants and investment banks and companies will enter the joint venture. According to Mr. Fadeyev, proposals from banks of Europe and the Russian Federation are already coming. For its part, OAO RZhD guarantees purchase of 60 trains at an agreed-upon price. As Gennady Fadeyev stressed, RZhD assumes the bringing of the infrastructure of Russian railways in line with the requirements of operation of high-speed trains. According to the estimate by the company's president, the value of this work (it will be done within three years) is practically equal to the value of the products to be bought from Siemens company. Hans Schabert confirmed Siemens' consent to all the conditions proposed by OAO RZhD, and noted that they "in effect, by 100% meet the Siemens ideas of the contract under preparation." The Siemens representative said that several engineering solutions of the future train have now been prepared. According to Mr. Fadeyev, "it is already clear that it will be a direct current electric train."
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