In December 2004, Siemens and Russian Railways signed an agreement on producing high-speed trains in Russia.
Russian Railways President Gennady Fadeyev and Head of Siemens AG Electric Train Division Dietrich Meller selected the Russian partner for the production of high-speed trains of the third generation. Siemens selected Transmashkholding (the Demikhovo engineering plant) out of 69 Russian enterprises capable of supplying hi-tech products for new trains on the basis of technical and economic criteria.
Siemens and Transmashkholding will establish a joint venture to promote the 3G high-speed train project. According to Fadeyev, the Russian side should be the majority stockholder of the joint venture.
Moreover, Fadeyev stipulated that the Demikhovo engineering plant should preserve the production volumes of electric trains required by the Russian Railways on the basis of the plant's current capacities. A separate program to extend and modernize production should be worked out for high-speed trains.
The first high-speed trains will be launched in late 2007 on the Moscow - St. Petersburg route.
