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INTER RAO

INTER RAO UES, General Electric and United Engine Corporation establish a joint venture to manufacture gas turbines

Published on Oct. 4, 2011

 
Read INTER RAO UES, General Electric and United Engine Corporation establish a joint venture to manufacture gas turbines

INTER RAO UES, General Electric and United Engine Corporation signed an agreement to establish a joint venture in Yaroslavl Oblast to produce and market high-efficiency 77 MW gas turbines with low 6FA emissions.

General Electric will hold a 50% stake in the JV; while INTER RAO UES and UEC will have 25% each. The Board will include two directors nominated by GE, one director nominated by INTER RAO UES and another one nominated by UEC. The nominated director by General Electric will serve as the Chairman. General Electric will also be responsible for operational management of the company.

Approximately 5 billion rubles will be invested in a new turbine manufacturing facility with expected annual revenues of a few billion dollars ...

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