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Wednesday September 19, 9:41 AMJapan MHI to enter Russia power plant market-paperTOKYO, Sept 19 (Reuters) - Mitsubishi Heavy Industries Ltd , Japan's biggest machinery maker, will enter the market for power plant facilities in Russia through an alliance with Russian-held investment group Renova, the Nikkei business daily said on Wednesday.The alliance, expected to be announced within a few days, means Mitsubishi will be the first Japanese heavy electric machinery maker to enter the Russian market for power systems, the Nikkei said. A Mitsubishi Heavy spokesman said he is still checking on the report, but has no immediate knowledge of the company's entrance into the Russian market. But the spokesman, who declined to be named, said Mitsubishi Heavy is generally looking for partners around the world. In Russia, state-run utility Unified Energy System plans to invest 1.45 trillion roubles, or about 6.5 trillion yen ($56 billion), in power systems by 2010, with 133 gas turbines and 146 steam turbines likely to be introduced, the paper said. President Vladimir Putin asked for technological cooperation during his visit to Japan in November 2005, it said. Shares of Mitsubishi Heavy jumped 4.6 percent to 664 yen as of 0126 GMT, while the benchmark Nikkei average was up 3.5 percent. |
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