Alstom And Atomenergomash Launch Joint Energy Venture In Russia

by Staff Writers
MOSCOW, April 2 (AFP) Apr 02, 2007
The French industrial group Alstom and Atomenergomash of Russia agreed Monday to establish a joint venture to build turbines and nuclear reactors, Alstom said in a statement.

Atomenergomash is to own 51 percent of the new group, while Alstom will hold the remaining 49 percent, with each investing 200 million euros (270 million dollars) in the venture, it added.

"The joint-venture company will focus on the promising nuclear power plant market in Russia but will also be in a position to bid on power plant projects abroad using Russian nuclear technology," the statement said.

Alstom would contribute its "Arabelle" half-speed turbine technology to the venture, which is to be located in Podolsk, close to Moscow, it added.

Atomenergomash is a subsidiary of Atomenergoprom, the state-owned company in charge of producing equipment for Russia's civil nuclear programme.

Source: Agence France-Presse

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