Siemens involved in new Energy Projects in Russia

Siemens, A.G., a German engineering conglomerate, is expanding its reach into the Russian energy market through 2 new projects: a power grid modernization project and a gas pipeline compressor manufacturing project.

The power grid modernization project centers around implementing smart grid technologies, as well as electronic upgrades, by producing electro technical equipment in Russia to be used for maintenance and reconstruction of the existing Russian power grid. The Federal Grid Company in Russia will invest 12 million euros for the project.

Siemens Energy, the energy arm of Siemens, A.G., will manufacture gas pipeline compressors in Perm with the partnership of ZAO Iskra-Avigaz, a 61 million euro join venture. The project is expected to create over 250 jobs in Perm, and the project is expected to develop a green manufacturing plant that will deliver its first compressors to Gazprom, the world's largest extractor of natural gas, by 2011.

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