Inter RAO, GE, Russian Technologies start building gas turbine unit factory
RYBINSK. Oct 31 (Interfax) - The OJSC Inter RAO UES Group , General Electric (GE) and Russian state-owned corporation Russian Technologies (Rostechnologii) have started building a factory to produce gas turbine units in Rybinsk in the framework of the joint venture LLC Russian Gas Turbines, Inter RAO said in a press release.
GE Chairman and CEO Jeff Immelt, member of the management board and head of the engineering unit at Inter RAO Yury Sharov and Deputy General Director of Russian Technologies Vladimir Artyakov participated in the groundbreaking ceremony for the factory.
"The new plant will manufacture, sell and service 77 MW highly efficient, low-emission 6FA industrial gas turbines in Russia and CIS countries. The production facility will be built near Rybinsk in the Yaroslavl region with an initial capacity of 14 units per year and will start operations in Q2 2014," the press release said.
"The cost of the construction and commissioning of the turbine manufacturing plant is estimated at 5 billion rubles. The investment will come both from the joint venture participants' own budgets and external financing," Inter RAO reported.
GE and Rosneft have already signed a contract for the delivery of five turbines for Far East Petrochemical Company's (VNHK) thermal power plant, which is one of largest Rosneft's projects. The first delivery is scheduled for the third quarter of 2014. This is an 'anchor order' for the joint venture.
According to Rosneft President Igor Sechin, the five turbines will cost 150 million euro. Including the service contract, that amount will grow to 300 million euro.
GEO has 50% of the joint venture Russian Gas Turbines, and the Inter RAO Group and Russian Technologies own 25% each.