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26/06/2014
15:24
M&A: Alstom, Soyuz Holding set up JV

Concern Alstom and OJSC SOYUZ Power Development Corporation have completed the setting-up of their joint venture to manufacture and commercialize high voltage switchgear, Alstom's press service informed.

The localization of the production capacities in Russia is an essential part of ongoing efforts to modernize the Russian electrical grid. The joint venture will be owned 51% by Alstom Grid and 49% by Soyuz Holding and will be part of Alstom's worldwide industrial organization, benefiting from its industrial know-how and technological expertise.

The deal assumes the continued manufacture of 110-220 kV circuit breakers and an extension of the range up to 500 kV capable of operating at temperatures as low as -60°C.

The agreement also foresees the introduction of a wider range of products, including disconnectors and gas insulated substations. This equipment will be produced at Soyuz's High Voltage Switchgear Factory at Mozhaysk, near Moscow.

This manufacture of a wide range of switching equipment will contribute to the significant upgrade undertaken by Russia of its electricity transmission and distribution system, spanning over 2.1 million kilometers across the country. The Russian grid market represents EUR 1.5 billion with an annual average growth of 10% due to the country's increasing demand for electricity capacity and its need to upgrade existing equipment.

It will be recalled that Russia is one of the leading producers and consumers of electric power worldwide, its installed power reaching 226 GW.

Alstom is a world leader in power generation and transmission and railway infrastructure development and is one of the leading companies in the sphere of development of innovative and environmentally friendly technologies. Alstom provides integrated turn-key solutions for the construction of power plants and related maintenance of various energy sources including hydropower industry, nuclear power engineering, gas, coal and wind. The company offers a wide range of power transmission solutions intended for intelligent networks.

Alstom revenue in the financial year 2013/14 reached EUR 20 billion, its portfolio of orders amounted to EUR 21.5 billion.

SOYUZ Holding is an international organization uniting 24 engineering, manufacturing and service enterprises located in Russia, Ukraine, Kazakhstan, and the Czech Republic. SOYUZ Holding's enterprises are principally engaged in the design, engineering, and turnkey construction of electricity generation, transmission and distribution facilities (heat power plants, substations, high-voltage lines and switchgear). The holding's engineering arm comprises 5 design and engineering centers employing 600 specialists.


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