SIEMENS (Germany) will soon be setting up a 50-50 joint venture with the Italian group FIATAVIO, to develop its energy activities. Baptised FIAT POWER SERVICES, this new company is expected to have turnover of EUR 50 million with just under 60 employees. SIEMENS and the French group ALSTOM intend to form a consortium on an egalitarian basis for the development and construction of a new cross-border high-speed train (TGV) for Europe.