Siemens and Russian Railways sign more than 300 million euro maintenance contract for high-speed trains

Erlangen, Germany – A maintenance contract worth more than 300 million euros for eight Velaro RUS high-speed trains was signed 2007-04-20 in Moscow by the President of Siemens Transportation Systems (TS), Hans M. Schabert, and the President of Russian Railways (RZD), Vladimir Jakunin. Under the terms of this contract Siemens will assume responsibility for the complete maintenance of the Velaro RUS high-speed trains for a period of 30 years. Russian Railways and Siemens had already signed a 276 million euro contract in May 2006 for the delivery of 8 high-speed trains.

All the Velaro RUS trains are to be built in Germany. Manufacture of the first train is due to start in the Siemens Krefeld-Uerdingen plant in July. These trains will be used primarily on the Moscow – St. Petersburg route, running at speeds as high as 250 km/h. Like the ICE 3 operated by Deutsche Bahn or the Velaro E of Spanish National Railway RENFE, the Velaro RUS represents the newest generation of high-speed train.

“Having concluded the supply contract for the trains, we are now happy to have also signed the corresponding maintenance contract. Such a long-range project helps to strengthen the economic ties between Russia and Germany. We are very pleased about the rewarding collaboration with the Russian Railways,” said Hans M. Schabert, President of Siemens Transportation Systems, at the contract signing ceremony.

This service and maintenance contract for the Velaro RUS trains reinforces the global presence of Siemens TS in the service business. Comparable long-term agreements also exist for high-speed and regional trainsets in Spain and Great Britain. The Velaro RUS units will be serviced and maintained in one of RZD’s plants. Back in November 2005 Siemens and Russian Railways had already signed an agreement establishing the strategic partnership.

The Transportation Systems Group (TS) of Siemens AG is one of the leading international suppliers to the railways industry. As single-source supplier and system integrator, the Group combines in its business segments Automation & Power, Rolling Stock, Turnkey Systems and Integrated Services all the expertise necessary to cover the spectrum from signaling and control systems to traction power supplies, as well as rolling stock for mass transit, regional and main line services. Extensive experience in project management and forward-looking service concepts complement our portfolio. In fiscal 2006 (ended September 30), TS generated sales of around €4.5 billion, according to U.S. GAAP, with around 18,800 employees worldwide. Further information on TS can be found at www.siemens.com/transportation