PRESS: Russia not to limit foreigners’ share in turbine JVs

MOSCOW, Jul 4 (PRIME) -- The Russian government will not insist that Gazprom and Inter RAO get at least 75% stake in turbine joint ventures (JVs) with Siemens and GE, business daily Kommersant reported on Thursday, citing sources.

Russia has no technologies to produce  gas turbines with capacities of over  110 megawatts (MW). In 2017 Siemens said that all the four turbines meant to be used on a Russian power plant on the Taman Peninsula were illegally shipped to Crimea, forcing the company to cancel its licensing agreements to sell power equipment to Russian firms and suspend then-current agreements with state-run companies.

Siemens continues litigation with its Russian contractors, and the Russian Industry and Trade Ministry developed a three-year roadmap to produce gas turbines with 110–170 MW capacity.

Power Machines owner Alexei Mordashov earlier offered to limit the share of foreigners in joint ventures with Russian companies. Representatives of the Industry and Trade Ministry supported the proposal. But sources cited by Kommersant said that Deputy Prime Minister Dmitry Kozak criticized the plan.

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