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German Industrial Companies Invested 2 Billion Euros In Russia
June 6, 2017 12:21


Last year German industrial companies invested two billion euros in the implementation of projects in Russia. This was announced at the international railway forum "Strategic Partnership 1520" by the Executive Director of the Eastern Committee of German Economy, Michael Harms.

According to him, the German corporations were more willing to invest in various sectors of the Russian economy. "This trend has been intensified due to the favorable exchange rate of the ruble and the policy of import substitution. And only last year, German companies invested two billion euros in the Russian Federation. More than half of the companies that we interviewed have production in Russia and will expand it,” he said.

Harms reminded that only Siemens Corporation had created more than 40,000 jobs in various industrial sectors in Russia. The company, in particular, produces electric trains "Lastochka" and electric locomotives at the plant "Ural Locomotives" (a joint venture with Sinara). "Another example of the railway industry is Fosslo Company, which has completely localized the production of rail fasteners and will open its plant in Russia in October," Harms added.


Author: Anna Dorozhkina


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