RZD signed a contract for the purchase of eight high-speed trains worth 276 million euros ($399 million) from Siemens in May 2006. Under the contract worth a total of 600 million euros ($867 million), Siemens will also provide maintenance and servicing for high-speed Velaro RUS trains for 30 years.
The loan comes in two tranches: the first portion of 249.8 million euros ($360 million), which the Russian railroad monopoly has already received, matures in 13.5 years while the second stage of 42.3 million euros ($61 million) has to be repaid in seven years, RZD said.
Velaro RUS trains, capable of traveling at 250 km per hour (155 miles per hour), or even faster after an upgrade, will be initially used on the Moscow-St. Petersburg route. Each train will consist of 10 cars and will be designed to carry 600 passengers.
Velaro-RUS trains are expected to run along the Moscow-St. Petersburg route in late 2009.
