The chief executive of Russia's Inter RAO said on Saturday the energy holdi...
KRASNOYARSK, Russia - The chief executive of Russia’s Inter RAO said on Saturday the energy holding hoped to reach a deal with General Electric Co by October to produce powerful gas turbines in Russia, either as a joint venture or by buying a license from GE.
It is seen as a rare opportunity for Western producers amid falling global demand for gas turbines in recent years, but Moscow has said investors must only use fully localised — domestically produced — equipment as part of a local content push. A plant jointly owned by Inter RAO, GE and Russian state conglomerate Rostec produces 77-megawatt turbines in Russia’s central region of Yaroslavl.
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