Alstom and Atomenergomash finalise strategic partnership in nuclear power plant market
Alstom and Atomenergomash finalise strategic partnership in nuclear power plant market
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Following a framework agreement signed on 2 April, 2007 in
Moscow, Alstom and JSC Atomenergomash have signed on 29 June
2007 the constituent documents of a joint venture dedicated to
manufacturing the conventional islands of Russian nuclear power
plants.
The agreement has been signed at Alstom headquarters in France,
in the presence of Sergey Kirienko, Head of Rosatom, Alexander
Adveev, Russian Ambassador to France, and Patrick Kron,
Chairman and CEO of Alstom.
The joint venture, in which Atomenergomash will hold 51% and
Alstom 49%, will be located in Podolsk, close to Moscow.
It will manufacture the entire conventional island of nuclear
power plants based on Alstoms Arabelle
half-speed turbine technology, that Alstom will transfer to the
new company, named Alstom Atomenergomash LLC .
The two partners will together invest 300 million in
the form of assets and cash. Their ambition is to reach a
business volume of 1 billion per year. The joint venture
will employ around 700 people. The board members and management
staff have been already chosen and approved.
The agreement demonstrates the firm commitment of both
parties to develop a long-term strategic and industrial
partnership to promote the technology for conventional island
associated to nuclear reactor of Russian technology. The
turbines produced by the joint-venture will be delivered to the
Russian nuclear power plants within the framework of the
Federal Special Purpose Program of Nuclear Power Industry
Development of Russia. They will also be supplied to nuclear
power plants outside Russia when based on Russian nuclear
reactor technologies.
JSC Atomenergomash is a part of Rosatom (Russian
Federal Agency for Atomic Energy), created with the aim of
ensuring comprehensive development, delivery, assembly and
maintenance of equipment for nuclear power plants
needs. Kirill B. Komarov is Atomenergomashs General
Director.
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