Atomstroyexport and Technopromexport
MOSCOW. Feb 20 (Interfax) - Russian nuclear power plant builder Atomstroyexport and Technopromexport, which builds power plants and exports electricity, have reached an agreement on a strategic partnership and are to set up a joint venture to build and manage power facilities in Russia and abroad, the two companies said in a joint press release.
"A memorandum on cooperation signed by the company's leaders on February 19 stresses the need for the creation of a large national player for the mutual strengthening of positions on targeted markets where services are sold," the press release says.
It makes sense for the two Russian engineering companies to unite because they both have a unified core of suppliers and identical technological approaches to drafting and building power plants, it says.
"The creation of a joint venture is the optimal model for carrying out large joint energy-related projects. In this way, we are setting up an enterprise that is capable of fully promoting Russian technologies on promising foreign markets," said Sergei Shmatko, the president of Atomstroyexport and deputy general director Atomenergoprom.
"We possess technologies and experience in building plants in traditional types of energy, while our partners have experience in building nuclear power plants abroad. Such a step will lower marketing costs on projects and eliminate unnecessary competition among companies, including on the domestic market," Technopromexport general director Sergei Molozhavy said.
The Federal Atomic Energy Agency (Rosatom) and Rostechnologies, both state-owned corporations, support the idea of creating a joint venture, the press release says.
Atomstroyexport and Technopromexport are both wholly owned by the Russian government.
(c) 2008 Daily News Bulletin; Moscow - English. Provided by ProQuest Information and Learning. All rights Reserved.
