The venture with General Electric will enable Saturn to widen the product line.
Photo: Vasily Shaposhnikov
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General Electric to Add Capacity to Saturn
Early next year, General Electric Energy and NPO Saturn will register a venture to jointly produce turbines for generating electric and heat energy of 40 MW to 150 MW. The tricky point is that the investment program of RAO UES of Russia, on which the parties stake, provides for buying the turbines of higher capacity.
General Electric Energy (GE Energy) and NPO Saturn announced yesterday the plans to set up a venture on Saturn’s facilities in Rybinsk. The venture will assemble industrial gas turbines of 40 MW to 150 MW capacity under the GE license.
By late 2007, Saturn intends to produce 10 percent to 15 percent of the turbine components under the GE license, extending localization to from 60 percent to 80 percent in future. The venture is to fetch the annual output of 10 turbines to 12 turbines in five years after certification. Russia’s turbines will cost 20 percent to 30 percent less than the product of GE Energy.
NPO Saturn designs and makes aircraft engines, gas turbine engines for vessels, natural gas superchargers and electric power units. 2005 revenues stood at 8.67 billion rubles; net profit was 1.3 billon rubles. Russian Federal Property Agency (Rosimushchestvo) holds 37 percent in Saturn, while entities and individuals own the remainder. Saturn is controlled by its General Director Yury Lastochkin.
GE Energy is General Electric’s division for manufacturing power engineering equipment. 2005 turnover was $16.5 billion.
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All the Article in Russian as of Oct. 18, 2006
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