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Russia’s Power Machines company to BOOST exports

Power Machines considers Africa, Southeastern Asia, India and Latin America as the most attractive markets.

FILE - This undated file image posted on a militant website on Tuesday, Jan. 14, 2014, which has been verified and is consistent with other AP reporting, shows fighters from the al-Qaida linked Islamic State of Iraq and the Levant (ISIL), now called the Islamic State group, marching in Raqqa, Syria. When Islamic State fighters routed Syrian government forces and took control of the ruins of Palmyra Thursday, May 21, 2015 morning, the ancient city became the latest archaeological heritage site to fall into the hands of the militant group. (Militant Website via AP, File)

ST. PETERSBURG, (Sputnik) – Russia’s Power Machines engineering company plans to consistently increase the exports share in its revenue, company’s CEO Yuri Petrenya told Sputnik.

“In 2016 the exports share in the Power Machines’ revenue amounted to more than 53 percent and this figure will further increase,”

Petrenya said.

According to Petrenya, the company considers Africa, Southeastern Asia, India and Latin America as the most attractive markets because many energy facilities are being constructed there.

“Moreover, one should not forget about such a sphere as providing maintenance services and modernization of the delivered equipment, especially taking into account our capabilities in the sphere on modern developments,”

the company’s CEO said.

Petrenya noted that Power Machines regarded the renewable energy as a perspective area for company’s development

“The renewable energy is one the areas that we should not neglect. I am talking not only about the wind energy but also about the solar energy because the holding has skills in the relevant technical fields,”

he said.

According to the CEO, Power Machines could become both supplier and sub-supplier of equipment in the field of renewable energy.

Petrenya noted that in early 2017 the company had $5.29-worth contracts with biggest projects developed in Vietnam and India.

In Vietnam, Power Machines company is working on the Long Phu thermal power plant, while in India – on the Kudankulam nuclear power plant and the Barh thermal power plant among other projects.

Power Plants is a major Russian power-machine-building enterprise, which encompasses several industrial companies. Since the holding’s foundation in 2000, Power Plants have produced thousands of steam turbines, turbogenerators, hydraulic turbines and hydrogenerators, with the produced equipment imported to 57 countries worldwide.

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Long live Russia !

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Russia’s Power Machines company to BOOST exports