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Russia’s Energy Reform to Load China’s Facilities
China’s TBEA is willing to take part in reforms of Russia’s energy market. It intends to create a joint venture here to produce electrical equipment. The analysts say the devices will enjoy popularity in Russia, while RAO UES cautions that the product of China hasn’t been standardized for the country yet.
China’s ÒÂÅÀ is due to announce today its first Russia’s project. The company will seal an intention protocol with Novolipetsk Metal Plant to set up on parity basis a metal service center for processing transformer steel in China. The next move, said representative of TBEA’s office in Russia, will be creating a joint venture here that will produce electrical equipment, first of all the transformers.
We hope to complete negotiations on joint venture’s establishment in the near term. We would like to take active part in Russia’s energy reform, including by upgrading old networks and constructing the new ones, the TBEA representative said, without naming a definite partner.
Tebian Electric Apparatus Stock Co. (TBEA) is one of China’s biggest manufacturers of electric equipment. 2006 revenues stood at roughly $739 million.
www.kommersant.com
All the Article in Russian as of Nov. 06, 2007
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