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Russian Railways (RZD) and Germany's Siemens signed a contract on Thursday evening for the purchase of eight high-speed trains for a total of 576 million euros.The trains will be produced in Germany and cost 276 million euros, he said. RZD and Siemens discussed raising funding for the project with help from Siemens, Vladimir Yakunin said.
The maintenance contract for the high-speed trains is worth about 300 million euros, RZD Vice President Valentin Gapanovich, who led the negotiation process, said. "The final [maintenance] contract will not be signed in the near future, but a pre-contract agreement. The final version will be concluded within a year," he said. Russian Railways may raise funding with a loan that would be guaranteed by German export agency Hermes, RZD Senior Vice President Fedor Andreev told the press. "We plan to announce a tender to select a bank in order to determine the best funding terms," he said. Siemens Transportation President Hans Schbert said the first pilot train would be delivered to Russia at the end of 2008 and all the trains will be delivered in 2009-2010. RZD earlier talked to Siemens about the supply of 60 trains, reports Interfax. Source: RZD Partner
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