TOKYO, June 21 (Itar-Tass) - Japan’s Hitachi Corporation has signed an agreement on scientific and technical cooperation in electric power engineering with Russia’s electricity grid system Russian Grids JSC, Japan’s leading business newspaper Nikkei said on Friday.
The companies signed the deal on the sidelines of the ongoing St. Petersburg International Economic Forum.
Under the agreement Hitachi and Russian Grids JSC plan to cooperate in upgrading electrical engineering infrastructure in Russian regions, in particular in the Republic of Buryatia.
They plan to analyze the operating electrical grids and to replace aging equipment with modern one.
The deal with Russian Grids JSC will help Hitachi to strengthen its positions on the Russian market of electric machinery. By 2020 Japan’s corporation hopes to increase its annual sales in Russia up to 10-15 billion yens ($103-154 million).