Power Machines says govt to spend 3 bln rbl on turbine devt ‘19

MOSCOW, Aug 28 (PRIME) -- Power engineering firm Power Machines expects that the government will provide 3 billion rubles on development of high-capacity turbines in 2019, the company said in a statement on Tuesday.

“The research and development, engineering and production capacities of Power Machines make creation of a national gas turbine of high capacity in the framework of cooperation with companies of the Russian defense and civil industry possible,” the company said.

Siemens said in July 2017 that all the four turbines meant to be used on a Russian power plant on the Taman Peninsula were illegally shipped to Crimea, forcing it to cancel its licensing agreements to sell power equipment to Russian firms and suspend the current agreements with state-run companies.

(67.3963 rubles – U.S. $1)

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