Rosatom and Siemens sign Memorandum of Understanding on the creation of a nuclear joint venture
"The progress made in the talks shows that we realy understand each other well by virtue of our experiences in joint activities and projects," underlined Sergey V. Kirienko, General Director of theState Corporation Rosatom. "In a fully fledged partnership with Siemens we want to become the world market leader in nuclear power business. I am looking forward to soon making next successful steps in our negotiations."
"It's a pleasure for me to announce that with the signing of the Memorandum of Understanding we have made an important step in the direction of closer cooperation with Rosatom only four weeks after we were kindly invited by Prime Minister Putin to hold talks," said Peter Löscher, President and CEO of Siemens AG. "With this agreement we see a great opportunity based on our long-termsuccessful cooperation to enlarge our footprint in nuclear business with a very strong and experienced partner. As an essential part of a sustainable energy mix, nuclear power will play an important role in low-CO2 power generation."
By 2030, it is forecast that there will be approximatately 400 new nuclear power plants around the globe, representing a total investment of more than EUR 1,000 billion. Siemens with its Energy Sector is the world's only fully integrated provider along the entire energy conversion chain, from exploration via power generation and transmission to the distribution of electrical energy. The company focuses on energy efficiency in a balanced energy mix including fossil fuels such as coaand natural gas as well as nuclear energy and renewables.
Rosatom currently erects 12 powerunits in and outside Russia on seven construction sites. The State corporation comprises covering the whole cycle of nuclear power generation - starting from uranium production up to the decommisioning of nuclear power plants.
About Siemens AG
Siemens AG (Berlin and Munich) is a global powerhouse in electronics and electrical engineering, operating the industry, energy and healthcare sectors. The company has around 430,000 employees (in continuing operations) working to develop and manufacture products, design and install complex systems and projects, and tailor a wide range of solutions for individual requirements. For over 160 years, Siemens has stood for technical achievements, innovation, quality, reliability and internationality. In fiscal 2008, Siemens had revenue of €77.3 billion and a net income of €5.9 billion (IFRS). Further information is available on the Internet at: www.siemens.com.