France to help Russia boost energy production
2 Apr, 2007 08:51
Alstom, French power and transport company, is creating a joint venture with Russia's Atomenergomash. Together, the companies will be producing turbines and generators for Russia's civil nuclear industry.
Russia will hold a controlling 51% stake in the $US 260 MLN venture. By 2030, Russia aims to boost nuclear output to 25% of all produced energy. Alstom's CEO says the deal gives the company privileged access to Russia’s burgeoning market. However, it is not only nuclear energy the French company is interested in. Alstom says it also wants to supply equipment to Russia's coal industry.