Dietrich Meller said the contract will be good for 30 years and complies with the accords reached with RZD in the summer of 2006.
Meller also said Siemens is interested in setting up a joint venture in Russia to produce components and parts for rolling stock.
Siemens also intends to bid in a tender to be held by the electric power monopoly Unified Energy System of Russia (UES) for a blocking interest in Russia's Power Machines, Meller said.
Power Machines designs, produces, supplies, maintains and modernizes equipment for steam, nuclear, hydro, and gas turbine power plants. Its largest shareholders include UES and Siemens, which hold 25% plus one share each, and Interros, the holding company for the world's largest nickel producer, which owns 30.4 %.
