A joint venture of Power Machines OJSC and Toshiba to manufacture electrical equipment in Russia has been renamed to Power Machines Toshiba High-Voltage Transformers, LLC.
The project formerly known as Izhora transformers LLC, was launched in September 2011 to establish the joint venture for the purpose of building a power transformer manufacturing and supplying plant for the territory of Russia.
Power Machines and Toshiba hold 50.01% and 49.99% of the joint venture shares respectively. The total amount of investments into the construction of a new high-voltage equipment plant is more than 5 billion rubles.
The joint venture will contribute to the comprehensive modernisation problems of power grids based on the most advanced and innovative technologies.
Federal Grid Company of Unified Energy System OJSC will act as the main purchaser of the equipment to be produced. Among potential consumers of the company's products are also power facilities of IDGC Holding, OGKs, TGKs, RusHydro, Rosatom, as well as power grid networks of the CIS and Baltic countries.
The construction of a high voltage equipment plant carried out by Izhora Transformers LLC is within the framework of the Metallostroy industrial area project. It will be put into operation by the end of 2013.
The product range of Izhora Transformers will include power transformers having voltage rating of 110 to 750 kV and capacity from 25 to 630 MVA, including three-phase versions and product units weighing up to 400 tonnes inclusive.