Russian Energy Machine Builder Reports 67 Percent Increase in Profits for 2002

Total sales in 2002 for energy machine building concern Siloviye Mashiny increased by 32 percent in comparison with 2001 and reached USD 330.483 million. Profits increased by 67 percent and reached USD 38.83 million. Orders on hand also increased by 22.5 percent and reached USD 1237.406 million. A spokesperson for the concern told Rosbalt that in 2002 Siloviye Mashinycompleted large orders for delivering equipment for nuclear power plants 'Tyanvan' (China) and 'Busher' (Iran). In part, steam turbines with a power of 1000 megawatts and turbine generator also with a power of 1000 megawatts for the construction of 'Tyanvan' nuclear power plant, and one turbine with a power of 1000 megawatts for the 'Busher' nuclear power plant. Moreover, the concern produced and delivered one hydro turbine with a power of 190 megawatts and two hydro generators with a power of 335 megawatts for the Bureiskaya hydroelectric power plant.

In addition, in 2002 Siloviye Mashiny produced and delivered equipment for the Lukomlskaya thermal power plant (Belarus), 'Yusifiya' thermal power plant (Iraq), Hevinomysskaya thermal power plant, Orskaya thermal power plant, Tyumenskaya thermal power plant, Balkhashskaya thermal power plant (Kazakstan), Zhezkazganskaya thermal power plant (Kazakstan), Krasnoyarskaya hydro electric power plant, and other power plants in different countries.

Among the larger contracts concluded by Siloviye Mashiny in 2002 were contracts for the delivery of equipment for two blocks of the Indian nuclear power plant 'Kudankulam' (USD 200 million), complete shipment of equipment for a steam gas cycle for Kalingradskaya thermal power station-2, combined-cycle plant-450 (USD 150 million), equipment for hydro electric power plants 'Sesan-3' and 'Pleikrong' in Vietnam (approximately USD 100 million), and hydro electric power plant 'Makkul' in Iraq (USD 77 million).

Siloviye Mashiny is part of the Leningradsky Metal Factory, open joint stock company Elektrosila, Turbine Shovel Factory, Kaluzhsky Turbine Factory, Energomashexport. The main shareholders in the concern are Interrosholding, which is headed by Vladimir Potanin and his partners (94.27 percent) and German company Siemens(4.93 percent).

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Author`s name Editorial Team