OREANDA-NEWS. September 05, 2007. According to the contract, which was signed in Helsinki, Alstom will produce four electric trains to enter service in 2010, reported the press-centre of Russian Railways.

The deal is worth around EUR120 million.

Oy Karelian Trains Ltd is a joint venture between Russian Railways the Finnish rail company VR Ltd which was set up in 2006 to acquire high-speed rolling stock for the passenger connection between St.Petersburg and Helsinki and provide technical support and servicing for the route.

The Company plans to operate four daily return runs, four from St.Petersburg and 4 from Helsinki.

In addition to the acquisition of new rolling stock, the project to speed up travel times between St.Petersburg and Helsinki envisages investment in the rail infrastructure in both Finland and Russia.

The repair of Russian rail lines is planned for 2007 and 2008, while the section between Lahti and Luumaki on the Finnish side should be complete in 2011.