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3 April 2007 - Alstom signed a framework agreement with Russia's Atomenergomash in Moscow, outlining a joint venture dedicated to manufacturing the conventional islands of Russian nuclear power plants.
Atomenergomash is a subsidiary of Atomenergoprom, the state-owned company in charge of producing equipment for Russia's civil nuclear programme. The joint venture, of which Atomenergomash will hold 51 per cent and Alstom 49 per cent, will be located in Podolsk, close to Moscow, and will manufacture the entire conventional island of nuclear power plants, drawing on Alstom's "Arabelle" half-speed turbine technology.
Alstom will transfer technology to the joint-venture company, namely for the manufacture of its "Arabelle" steam turbine and generator. The agreement demonstrates the firm commitment of both parties to developing a long-term strategic and industrial partnership. It will allow the two partners to propose a complete package including the nuclear reactor and the conventional island.
The joint venture will benefit from the best available technology for the conventional island of its nuclear power plants and will have exclusive access to the fast-growing Russian nuclear power plant market. The joint-venture company will focus on the promising nuclear power plant market in Russia but will also be in a position to bid on power plant projects abroad using Russian nuclear technology.
The two partners will together invest €200m ($267m) in the joint venture in the form of assets and cash.
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