MOSCOW, November 11, 2015 /PRNewswire/ --
During his working visit to Germany, Denis Manturov, Minister of Industry and Trade of the Russian Federation, attended the Siemens gas turbine factory and discussed new formats of effective industrial cooperation with the management of the German company.
"Our collaboration with Siemens dates back many years and covers multiple aspects of cross-industry cooperation between our countries. First of all I would like to mention that we appreciate the investment activities carried out by Siemens AG in the Russian power and transport engineering sectors," said Denis Manturov at the meeting with the German company's management. "However, so long as the sanctions regime is in force, German companies with local production facilities will have the strongest competitive advantage in Russia since they are not subject to 'sanction pressure' and foreign exchange risks."
The Russian Minister of Trade and Industry called on the management of the German company to act on the intention announced at the 2015 St. Petersburg International Economic Forum - to relocate the Global Сentre of Competence (Research and Development) for the gas turbine business to Russia: "We welcome this decision and hope that it will enable us to achieve even closer cooperation in industrial processes."
The Minister said that by 2020 the high-performance gas turbines maintenance plant commissioned in the Leningrad Region is expected to achieve the target level of localisation. Besides, the commercial appeal of such cooperation will drive the German company to sign the so-called investment contract specified by the Federal Law "On Industrial Policy in the Russian Federation".