GE joint venture in Russia to manufacture gas turbines

GE, INTER RAO UES Group and the Russian Technologies State Corporation have broken ground for a Russian Gas Turbines LLC Manufacturing Facility.

The foundation stone was laid by Jeff Immelt, GE Chairman and CEO, Yuriy Sharov, Member of the Management Board and Head of Engineering Unit of INTER RAO UES, and Vladimir Artyakov, Deputy General Director of the Russian Technologies State Corporation. The new plant will manufacture, sell and service 77 MW highly efficient, low-emission 6FA industrial gas turbines in Russia and CIS countries. The production facility will be built near Rybinsk in the Yaroslavl region with an initial capacity of 14 units per year and will start operations in Q2'2014.

The cost of the construction and commissioning of the turbine manufacturing plant is estimated at 5 billion rubles. The investment will come both from the joint venture participants' own budgets and external financing.

GE and Rosneft Oil Company have already signed a contract for delivery of five turbines for the thermal power plant of Far East Petrochemical Company (VNHK), which in one of largest Rosneft's projects. The first turbine delivery is scheduled on the third quarter, 2014. 

The share of GE in Russian gas turbines joint venture is 50%, INTER RAO UES Group and the Russian Technologies State Corporation have equal size shares of 25%.