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. Last Updated: 07/27/2016

Alstom Joint Venture Wins Turbine Deal

PARIS — Alstom's joint venture with Atomenergomash won a contract to engineer the turbine and generator of a planned Seversk nuclear power plant in Siberia, the French company said Monday.

The accord is the first signed by the joint venture since it was established in 2007, Alstom said in a statement. It did not provide the value of the contract.

Alstom Atomenergomash was established to supply turbines for new nuclear power plants in Russia based on Alstom's Arabelle technology, as the country seeks to boost atomic power production by spending as much as 1.3 trillion rubles ($53 billion) on machinery for nuclear power plants through the end of the next decade.

The Seversk NPP Project is a two-reactor power plant to be built by 2010, Alstom said.

Russia wants hydroelectric and atomic energy to account for almost half of its power production by 2030, from one-third now, as global prices for gas and crude make exports more lucrative.