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14 July 2015 year Russia’s facilities pioneering repair of large gas turbine components to be opened by year end. TASS

The estimated investments will reach about $10 mln

YEKATERINBURG, July 13th. /TASS/. ROTEC Holding Company is rolling out its investment project to establish the repair and remanufacture facilities for gas turbine components. TASS news agency quotes Mikhail Lifshits, CEO of the company and Chairman of the Board of Directors at Ural Turbine Works (UTW), as saying that the facilities are to be launched by the end of 2015.

"We expect to launch a new gas turbine remanufacture unit in Yekaterinburg, at the Ural Turbine Works. In terms of large gas turbines over 50 MW, it is about to be a path-breaking local production for Russia. The estimated investments will reach about $10 mln," says Mr. Lifshits.

The annual capacity of the installed equipment is around 50 turbines.

At the second stage, by 2019, ROTEC’s plans in Russia are to pioneer the production of full-cycle gas turbine HGP components, including elaboration of documents, manufacture of patterns & molds, foundry, machining. The project will utilize the technologies of foreign companies.

Adopted on July 8th by the panel of the Eurasian Economic Commission, the resolution to slash the duty on any imported parts of gas turbine equipment to zero from September 2, 2015, until August 31, 2019, according to Mr. Lifshits, will have nearly no impact on the company’s prospects. "We’ll look into any potential implications of the adopted resolutions and adjust the timeline," he says.

According to the CEO, UTW’s key production – manufacture of steam generation turbines – does not require phase-out of imports. "Our turbines are 96% Russian, and phase-out of imports is irrelevant for us. It's been 7-8 years that we’ve been competing with foreign manufactures of power generation equipment on foreign markets: Kazakhstan, Mongolia, Serbia, Belarus", notes Mr. Lifshits.

ROTEC is a diversified industrial holding. The company offers gas and steam turbine servicing, power generation equipment manufacture & supply. It is also running a number of high-tech projects in various industrial sectors, including power plant engineering, aircraft and engine building. UTW belongs to the holding company. Renova Group is ROTEC’s principal shareholder.

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