Power Machines will ship turbines and generators in 2010 to 2012 to construct two nuclear plants, Novovoronezh-2 and Leningrad-2.
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Atomenergoprom Set Power Machines Into Motion
Power Machines and Atomenergoprom (part of government-controlled Rosatom Corp) clinched a deal for equipment supplies. The budget is the record for the industry, $1.7 billion. Therefore, Power Machines has set to receiving big orders from energy giants, justifying the acquisition hopes of Alexei Mordashov.
Power Machines General Director Igor Kostin and Atomenergoprom Director Vladimir Travin inked in Moscow yesterday a contract for equipment supplies worth $1.7 billion. In 2010 through 2012, Power Machines will ship the turbines and generators for constructing two nuclear plants, Novovoronezh-2 and Leningrad-2. People in Power Machines said the contract is top priority for the company and they have been preparing for it during a year.
The contract is truly significant. So far, Rosatom divisions have never bought the equipment for the worth of that extent despite the investment program elaborated till 2015 and approved by the government in 2006. Under that program, the costs for the new equipment are to amount to at least $50 billion.
But in the power engineering community, they received the first order only yesterday, two years after the investment program’s adoption. On the threshold of these orders from electric power business, Alexei Mordashov became the controlling holder at Power Machines.
www.kommersant.com
All the Article in Russian as of May 29, 2008
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