GE, INTER RAO UES & Russian Technologies to Form Joint Ventures

GE GE and two Russian companies signed a framework agreement today to form joint ventures that will help modernize the country's healthcare and power generation sectors by localizing technology, manufacturing and expertise. Under the framework agreement, GE, state corporation Russian Technologies and INTER RAO UES JSC intend to form a joint venture to manufacture, assemble, sell and service energy-efficient heavy-duty gas-fired power generation turbines in Russia. GE and Russian Technologies also intend to form a joint venture to manufacture, assemble, sell and service high-tech medical diagnostic equipment in Russia. Financial details of the transactions were not disclosed.