Siemens Pipeline Compressors To Be Built In Russia: Local manufacturing being established to meet market demands

摘要

Siemens Energy has recently announced the signing of a joint venture with ZAO Iskra-Avigaz for the manufacture of its line of pipeline centrifugal compressors in Russia. The company, Russian Turbo Machinery LLC, will be based in Perm, Russia. The project provides investments for financing the new "green field" manufacturing plant and a stepwise ramp-up of production capacity within the next three years. Siemens will hold 51% of the shares and Iskra-Avigaz the rest The combined investment is approximately US $77 million.