State companies JSC Atomstroyexport and JSC VO Tekhnopromexport have agreed upon strategic partnership and are setting up a joint venture for construction and management of power engineering facilities abroad and in Russia.
A necessity to establish a big national player for mutual strengthening of positions at the target markets for service sale is emphasized in the memorandum of cooperation was signed on February, 19 by the leaders of the companies.
Expediency to combine efforts of two largest Russian engineering companies is supported by availability of a common base of suppliers and the same process approaches in the domain of power plant design and construction.
"Setting up of a joint venture is an optimal scheme for implementation of large joint power engineering projects. Thus, we establish an enterprise that is able to promote fully Russian technologies at promising foreign markets", - Deputy Director of JSC Atomenergoprom, President of JSC Atomstroyexport Mr. Sergey Shmatko says.
"We possess technologies and experience in construction of power plants in conventional power engineering, and our partners have experience in NPP construction abroad. Such a step will allow to reduce marketing costs for projects and to eliminate unwanted competition between the companies, including at the domestic market", - Director General of JSC VO Tekhnopromexport, Mr. Sergey Molozhavy thinks.
State corporations
JSC Atomstroyexport (JSC ASE) is a leading Russian company that implements contracts for construction of nuclear power facilities abroad. After commissioning of Tianwan NPP in China, JSC Atomstroyexport continues to fulfill its obligations on construction of Kudankulam NPP in India, Bushehr NPP in Iran and Belene NPP in Bulgaria.
SOURCE: Atomstroyexport
DATE: February 27, 2008
Topics: Russia, Atomstroyexport