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Rosatom Unconcerned by Siemens Move

Rosatom has denied that it will face any difficulties from Siemens' departure from the nuclear power plant building industry.

"Rosatom has other partners whose developments can be used," a company spokesman told Gazeta.ru on Monday.

Siemens chief executive Peter Löscher announced the German conglomerate's withdrawal from the nuclear business in an interview with Der Spiegel published Sunday.

The news followed a German government decision to phase out nuclear power by 2022. Löscher said the engineering group would have to ditch a joint venture with Rosatom to build and renovate nuclear plants, but that the company hoped to continue cooperation in other areas.

Siemens abandoned a partnership with France's Areva to set up the joint venture with the state-owned Russian firm in 2009. Löscher at the time hailed it as a "future leader" of the global nuclear industry.

Power Machines, Alexei Mordashov's turbine manufacturer, could increase its order book as Rosatom looks for an alternative supplier of parts for nuclear plants, Bloomberg reported, citing analysts at Renaissance Capital. 

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