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Rail company seals SFr240m Russian deal

Stadler Rail has signed a SFr240 million ($289 million) deal to supply railway components to a Russian company.

This content was published on July 12, 2011 - 14:49 and agencies

The deal was announced by Economics Minister Johann Schneider-Ammann on the third day of his four day trade mission to Russia.

Stadler Rail will supply Russian train manufacturer Transmasholding (TMH) with 100 diesel-powered drive components, which will be installed in 50 trains.

The prototypes are due to be delivered at the end of 2012 and the first trains incorporating the parts to be put into circulation in 2014.

Also on Tuesday, Schneider-Ammann met his Russian counterpart Elvira Nabiullina to discuss on-going negotiations for the establishment of a free-trade agreement within the context of the European Free Trade Association, and Russia’s desire to join the World Trade Organization (WTO).

“It’s a long process,” said Schneider-Ammann on the question of when Russia might be admitted to the WTO. “There is still a lot of work to do and details to resolve.”

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