Russian RZD will continue cooperation with Siemens and Alstom
Published: Fri, 2014-11-28 12:25Russian RZD will continue cooperation with Siemens and Alstom, despite sanctions, imposed on Russia and deterioration of local business environment, according to head of RZD Vladimir Yakunin.
According to Yakunin, cooperation with Siemens will take place through a joint venture, which is known as Ural Locomotives and which was established by Sinara Group, a Russian investment company with holdings in the property development, transportation (rail) and financial services sectors, owned by a local businessman Dmitry Pumpyansky and Siemens. The new venture specializes on the production of new generation of electric locomotives.
According to Yakunin, in addition to Siemens, Alstom has also plans to continue implementation of its projects in Russia.