Joint venture “RUSHYDRO-ALSTOM” to be established in Bashkiria

The agreement between Bashkortostan, JSC “RUSHYDRO” and the French company “ALSTOM” concerning establishment of the joint venture “RUSHYDRO-ALSTOM” was signed in Moscow on December 9.

“This agreement has high social-economic significance for the Republic” – the President of Bashkiria Rustem Khamitov mentioned – “RUSHYDRO and ALSTOM will open one or several joint ventures for production of power-engineering equipment for the hydro-stations. The expected sum of investments will be about 500 million euro with possible increase up to one billion euro at the next stages”.

The full technology for production of the unique and highly demanded in the country equipment will be created in Bashkortostan and modern turbines will be used not only in Bashkiria but in other regions of Russia too, for instance, at the construction of the series of hydroelectric stations in Kuban and Volga-Kama basin.

“The main thing for us is inculcation of the applied results of our joint activity in sphere of innovations and research and experimental works to production” – the President of JSC “RUSHYDRO” Eugene Dodd stated.

Republican enterprises and organizations will be attracted to realization of the future investment projects and the engineering potential of such Ufa enterprises as “UMPO” and “Hydraulics” as well as of the Ufa State Aviation Technical University will face high demand. About 500 workplaces will be opened at the first stage and later the number of the workers at the new joint venture will increase up to several thousand.

Construction of the plant is scheduled on the end of May 2011 and it has to be put into operation in one year and a half.

The Republic will patronize the future techno-park in the form of various preferences, such as tax bonanzas, allocation of the investment tax credits and preferential land tenure. The plant will be located in Ufimsky region of Bashkiria, the press-service of the Government RB reports.