Siemens links up with Rosatom on nuclear technology

German industrial giant Siemens is to invest $45 million in the construction of a transformer factory in Russia's Voronezh region. It will be a joint venture with Russian nuclear energy firm Rosatom.

On Tuesday the heads of Siemens and the Russian State Corporation, Rosatom, announced a joint nuclear energy programme

Siemens is also considering a possible joint venture with Russia's Atom Energoprom, which builds and operates nuclear power plants in Russia.

The German engineering giant will also service power turbines for Mosenergo and OGK-2 generators. Rosatom head, Sergey Kiriyenko, said the two firms could work together on exports in future.

“Siemens has recently stated that it wishes to play a more important part in the international market for nuclear technologies. In this our strategies and interests coincide. We are sure that bringing our potentials and efforts together will strengthen the market positions for Siemens and Rosatom alike.”