Power Machines in 2011 to invest 4.3 billion rubles

According to the business plan of OJSC "Power Machines" in 2011 to finance the investment program of the company this year will be allocated 4.3 billion rubles, which is 22% more than what was allocated for the investment program in 2010.
In order to finance the investment program will be used by equity and debt. The investment program in 2011 is a continuation of the investment plan "Power Machines", approved in 2008.
Investment activities in 2011 include:
development of industrial and laboratory test facilities of the company,
expansion of research and development activities,
further implementation of the project of construction of the first phase of the new plant, "Power Machines" for the production of power equipment in an industrial area "Metallostroy" (Kolpinsky district of St. Petersburg).
In the industrial zone "Metallostroy" full-scale construction of the first starting complex for the production of low-speed and high-speed turbine with capacity up to 1,600 MW of nuclear power plants. Completion date of the first complex is scheduled for mid-2012, production of new products — in 2013. With the release of a new set of full capacity production facilities to increase production equipment with a capacity of 14 GWh per year (2011 — 9 GW). The amount of funding of this area will be approximately 50% of the budget of the investment program in 2011.
At present JSC "Power Machines" is implementing several large-scale innovative projects aimed at creating new types of products with the specifications or the relevant superior world counterparts:
the creation of a new low-speed turbine capacity of 1,200 MW nuclear power plant;
the development of modern steam turbines supersvehkriticheskie steam parameters for thermal and nuclear power plants;
industrial development of the gas turbine 65 MW of its own production;
the creation of high-performance hydraulic turbine equipment for heavy-duty power plant in Siberia and other regions of the world;
development of equipment for pumped storage hydropower plants, and others.

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