MHI collaborates with Renova Group and ZAO Ural Turbine Works of Russia in gas and steam turbine businesses

MHI has concluded an agreement with Renova Group of Companies, a leading Russian asset management firm, and ZAO Ural Turbine Works (UTZ), a core Renova Group company, to collaborate in the gas turbine and steam turbine businesses.

MHI will license its manufacturing technologies for large-size gas and steam turbines to ZAO UTZ. In addition, MHI will establish a joint venture in Russia with ZAO UTZ, and Teploenergoservice-EK Corporation (TES), a steam turbine maintenance service company, to launch local after-sales service business for gas and steam turbines. MHI and Renova Group also plan to mull the possibility of MHI providing the Group with other of its technologies in the area of power generation: heat recovery steam generators, for example.