Court orders Siemens to fulfill repair deal with Russian Railways
MOSCOW, Mar 22 (PRIME) -- The Moscow Arbitration Court ordered Germany's Siemens and its affiliate Siemens Mobility on Wednesday to fulfill an agreement for repair of 294 trains of Russian Railways.
In case of deal non-fulfillment, Siemens will pay Russian Railways 36.7 million rubles for each day of non-fulfillment from the date of the court ruling entrance in force until fulfillment. The ruling will enter in force in a month if the defendants do not contest it.
The deal was signed on September 7, 2011 and terminated by Siemens on May 13, 2022.
(76.8373 rubles – U.S. $1)