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A project to supply new power engineering equipment models paves the way for Power Machines to tap a huge sales market where the company could generate impressive earnings.
On June 28, Power Machines and WGCV-3 inked a contract to supply power engineering equipment worth over Rub 2 bln ($77 mln). Equipment will be supplied to two new energy units of the Cherepetskaya GRES and one new energy block of the Khanarorskaya GRES. Each unit has a capacity of 225 MW. Power Machines will implement design, manufacture, test, supply, assemble and start-up operations for steam turbines, generators and auxiliary equipment. Equipment for Cherepetskaya GRES is to be supplied in Q1-Q2 2009 and for the Khanarorskaya GRES in Q409.
This project is extremely important for Power Machines, since the company will supply the most advanced steam turbines with an enhanced performance coefficient. In the event that this development is implemented successfully, UES will recommend using this type of turbines to replace the old ones and there are more than 250 of them in Russia.
Thus, successful implementation of the project to supply new power engineering model paves the way for Power Machines to huge sales market where the company could generate impressive earnings and considerably boost its market cap.
Konstantin Romanov
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