The public company Russian Railways will sign a treaty with the Siemens on the stage of designing, the organization of the production of high-speed electric trains and general terms of the contract on April 11 in Hannover

The public company Russian Railways will sign a treaty with the Siemens on the stage of designing, the organization of the production of high-speed electric trains and general terms of the contract on April 11 in Hannover, president of the Russian Railways company Gennady Fadeyev told reporters on Monday. "This document, as a matter of fact, has been coordinated today," he said, commenting on the results of the meeting with the Siemens leadership on Monday. The head of the Russian Railways company specified that the German side was to determine the amount of the financing of the design work before April 6 and that this figure will be fixed in the treaty. This way, Fadeyev believes, the sides will be able to manage to cope with the timeframe of the signing of the final contract for the production of 60 high-speed electric trains. Earlier it was reported that the Russian Railways company and the Siemens will sign a contract in the middle of this summer. According to Fadeyev, the cost of the contract for designing and production of 60 trains has been estimated at 1.5 billion euros. However, this figure can be either increased or lowered," the head of the Russian Railways company specified.