United Engine Corporation (UEC) Inter RAO Group General Electric

Shareholders

The shareholders of Russian Gas Turbines LLC are the leaders in their sectors and have unique competences in the key fields for successful business at the Russian energy market.

General Electric works on the things others are not thought of yet; creates the things that are impossible for others and finds optimal solutions that make the world better. GE successfully connects a material world to the world of digital technologies. In scientific laboratories, at plants and in work with clients of GE creates new industrial era to ensure the peace energy, transport, infrastructure and to help to keep human health. www.ge.com

Inter RAO diversified power holding managing assets in Russia, in Europe and CIS.
Activity of "Inter RAO" includes:

www.interrao.ru

United Engine Corporation (UEC) is the integrated structure is involved in engine production for military and civil aviation, space programs, units of various power for heat and power production, gas distributing and ship gas-turbine units. The UEC unites more than 85% of assets of the branch and it is subsidiary company of OBORONPROM United Industrial Corporation. www.uecrus.com

Establishment history

Russian Gas Turbines LLC established as a joint venture of General Electric, INTER RAO, and Rostekhnologii (United Engine Corporation Management Company OJSC). Joint venture framework agreement signed on September 16th, 2011 at X International Investment Forum “Sochi-2011”.

The agreement was signed by:


"Establishment of these two JVs will aid development as GE so Russia in general. Such long-term strategic opportunities fortify GE positions in Russia and confirm our global leadership in the power engineering and health care sectors."

President and Chief Executive Officer of GE for Russia and CIS, Ron Pollett.


"Establishment of a joint venture with GE and UEC MC is an important step in the development of engineering business of Inter RAO. Nowadays we observe a rapidly growing demand for modern high-efficient cogeneration plants in Russia and abroad. They are perfect for construction of new combined heat and power plants and for re-equipment of obsolete steam-power gas-fueled CHP plants. Inter RAO intends to use the turbines manufactured by the joint venture at its own facilities receiving synergistic effect, and to bring to the front new equipment at Russian and foreign markets. Thus, the company will turn into one of the largest players in the engineering business, which is fully corresponds with the approved company development strategy for the mid-term prospect."

Chairman of the Management Board of Inter RAO, Boris Kovalchuk.


"The Corporate Strategy provides the implementation of new effective business lines and extension of the application area of the existing technology competences, also by the development of joint projects with the international business leaders. The corporation is successfully working on such programs on helicopter engineering, engine technology, air drones, and their maintenance. We consider this document as an important event for Russian high-technology sectors, which indicates a new level of engagement of our country in the global cooperation. The JV will bring new technical industrial solutions to the market and will expand access to the maintenance services that meet high global quality standards. We will try to extend our cooperation, among other things, by way of gradual production localization in Russia."

General Director of UEC MC Andrey Reus.
Теги: GE  UEC  Inter RAO