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. Last Updated: 07/27/2016

U.S. Firm Lines Up 3 Deals

The U.S. industrial firm Westinghouse Electric Corp. has signed three agreements with Russian partners to cooperate in the fields of energy and air traffic control, positioning itself to benefit from future modernization projects, representatives of the Russian partners said Tuesday.


Westinghouse signed letters of intent to cooperate in future projects with the Russian Nuclear Power Ministry, power company United Energy Systems, and Buran, an international consortium formed to modernize the country's air traffic control system. The letters include neither the terms nor the value of the projects.


Under the agreement with the Nuclear Power Ministry, Westinghouse will be included in plans to reconstruct Soviet-built nuclear power stations and improve safety systems, said Vitaly Nasonov, deputy head of the ministry's information department.\


Viktor Mikhailov, Russia's nuclear power minister, reached a preliminary agreement on cooperation during his visit to the United States as part of a delegation led by Prime Minister Viktor Chernomyrdin, Nasonov said. He said Mikhailov signed the letter of intent last week.


In the United Energy Systems deal, Westinghouse will contribute its technological know-how in projects to modernize turbine-based power stations and even build new ones, according to Vitaly Gorin, head of the Russian firm's foreign relations department.


In a memorandum of understanding signed with Buran, Westinghouse will be the lead general contractor for U.S. and Japanese companies to begin modernization of Russia's air traffic management system, according to Reuters. The entire 12-year project is valued at $5 billion.


"The agreements cover three important areas which will enable Westinghouse to make significant contributions to vital sectors of the Russian economy," Westinghouse president Gary M. Clark told Reuters.


"The agreements position Westinghouse to capitalize on joint Russian-American technology investments," he said.