Alstom Gets $500M Order

Alstom said it won an order valued at about 380 million euros ($500 million) to equip Russian nuclear plants, as the French company pushes a business that Siemens abandoned last year as Germany exits atomic energy.

Alstom will provide turbine equipment, and its order is part of a contract valued at more than 35 billion rubles ($1.2 billion) awarded to a venture 51 percent owned by Rosatom's Atomenergomash and 49 percent by Alstom, according to a statement Thursday.

Alstom's partnership with Rosatom contrasts with Siemens' announcement four months ago that it would abandon a planned return to the nuclear power industry and drop plans to cooperate with Rosatom in reactors. The French company is forging partnerships in countries such as Brazil and Russia to tap rising infrastructure needs.

(Bloomberg)

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