OREANDA-NEWS. May 28, 2010. Russian Railways, Siemens AG, and Aeroexpress signed Memorandum on Production, Supply and Servicing of Modern Russian Trains today in Sochi The three-way memorandum was agreed during of the V International Rail Business Forum "1520 Strategic Partnership", reported the press-centre of Russian Railways.

The document was signed by Vladimir Yakunin, president of Russian Railways, Hans-Jorg Grundmann, executive director of Seimens Mobility and vice president of Siemens AG, and Aeroexpress board member Maxim Liksutov.

In line with the memorandum, Russian Railways, Siemens, and Aeroexpress will setup a joint venture in Russia to produce new-generation Desiro RUS electric trains with asynchronous traction drive. These trains will be built by a joint venture in Russia, based on the Olympic electric trains that Siemens will supply to Russian Railways in 2012-2013 under with a contract signed between the two companies in December 2009.

Serial production of the modern electric trains is set to begin at the joint venture in 2014, and the share of associated parts and components of the train produced in Russia should reach 80% by 2017. The joint venture plans to reach production capacity of 200 carriages per year.