Russia’s RusHydro, Alstom may drop equipment plant project

MOSCOW, Mar 23 (PRIME) -- Russian hydropower giant RusHydro and French engineering company Alstom will likely drop plans to build a joint plant for production of hydropower equipment, RusHydro CEO Nikolai Shulginov told reporters Wednesday.

“I think that Alstom does not want to continue this issue as well, because it is necessary to have a good market to build a plant. There is no such a marker. The quality of equipment, which we planned to buy from Alstom, including for modernization of the Kuban hydropower complex, leaves much to be desired, that’s why we have found a joint decision with Alstom that the project will not likely be implemented,” he said.

The companies’ combined investments in the joint venture amounted to around 2 billion rubles, less than 1 billion rubles was spent on infrastructure. The designing of the facility has not been completed.

The facility, whose construction started in 2012, was slated to produce equipment for hydropower plants with a capacity of up to 25 megawatts and of up to 100MW, for pumped-storage plants with a capacity of up to 150 MW, as well as automated process control systems and secondary equipment.

(67.7764 rubles – U.S. $1)

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