|
contents | news | |||||||||
| Siemens cooperates in Russia with Renova During the German-Russian summit between President Vladimir Putin and German Chancellor Angela Merkel in Dresden, Siemens and Russia's Renova Group signed a memorandum of understanding regarding cooperation on infrastructure projects in Russia. The agreement focuses on the areas of power generation, power distribution, telecommunications and airport modernization. The long-term volume will total up to €450 million. The framework agreement; which covers the joint development of infrastructure projects in Russia, aims to improve the efficiency and reliability of Russia's energy supply. The partners will also focus on projects in the telecommunications sector and on equipping and modernizing Russia's regional airports. Siemens described the agreement as a strategic commitment to leverage its technical expertise in the areas of power generation and distribution, telecommunications and industrial solutions in order to modernize Russia's energy sector. Active in Russia since 1853, Siemens has long been a key technology partner to the region. Russia's Renova Group is a diversified industrial holding with increasingly international activities. It is one the country's leading investors in, for example, the oil, natural gas, mining, metallurgical, mechanical engineering, chemicals, real estate and utilities sectors. The Renova Group is primarily active in Russia, the C.I.S. states, Switzerland, South Africa and the United States. The Group has a total business volume of over US$11 billion. Its major commitments include participation in the joint Russian-British oil venture TNK-BP and in SUAL, Russia's second largest aluminum producer. The Group is headed by Dr. Viktor Vekselberg, one of Russia's most influential entrepreneurs. write your comments about the article :: © 2006 Construction News :: home page |