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Siemens pegs hiking localization of turbine production to 90% at tens of millions of euros

By raising the local manufacturing content for turbines in Russia to 90%, Siemens will be able to participate in the country’s new program to modernize generating capacity

© Yelena Afonina/TASS

YEKATERINBURG, July 11. /TASS/. Germany’s Siemens estimates investments into boosting the local manufacturing content for mid and high capacity gas turbines from the current 60% to 90% at tens of millions of euros, President of Siemens Russia and Central Asia Dietrich Moeller said in an interview with TASS.

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"I stated that we’ve already reached a localization level of around 60%, which is already a big step and a major investment. But 30% still remains, and it is possible to reach that 30% through (our) own investments worth tens of millions of euros," he said.

By raising the local manufacturing content for turbines in Russia to 90%, Siemens will be able to participate in the country’s new program to modernize generating capacity, which will succeed the capacity supply agreement program that had expired last year.

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Russia holds Victory Day parade on Moscow’s Red Square

The parade began with the march of the banner group of the Preobrazhensky Regiment Honor Guard’s unit carrying the Russian national flag and the legendary Victory Banner across Red Square

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Driver lost control of vehicle resulting in bus crash in St. Petersburg — report

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Hungary views China as pillar of multipolar world — Orban

Prime Minister pointed out that the world had recently undergone serious transformations, as the world order had changed to become multipolar

Russia pre-emptively plans intermediate-range missile sites to counter US moves — diplomat

Correspondingly, specialists are carrying out preliminary pre-emptive planning, Sergey Ryabkov said

Israel has no plans to introduce Russian Mir payment cards — ambassador

Israeli Ambassador to Russia Simona Halperin said said that Israel works with the international SWIFT system

Relations with Russia are really important for Israel — Ambassador to Moscow

Dialogue between Israel and Russia is important, including on those topics where the parties "absolutely disagree," Simona Halperin said

London refuses to engage with Moscow on Skripals — senior Russian diplomat

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According to Simona Halperin, it is possible to talk about a complete ceasefire after Israel wins

Hungary supports Chinese peace plan on Ukraine — Orban

Hungary urges for an immediate ceasefire and peace talks, the prime minister said

Russia’s Dnepr group repels counterattack by 118th brigade of the Ukrainian Armed Forces

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Four residential blocks catch fire as Ukrainian attack hits oil depot in LPR

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Putin submits Mishustin's candidacy for post of prime minister to State Duma

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The Ministry of Emergency Situations added that diving rescue work has been finished at the accident site

Kiev troops presumably used ATACMS missiles to strike Lugansk — politician

"Missiles hit an oil storage facility within city limits," Vladimir Rogov said

Russia mulls developing vertical take-off fighter jets for new aircraft carrier

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Israel and Russia double number of flights for spring and summer — ambassador to Moscow

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Zamir Kabulov also mentioned that Russia's cooperation with the Taliban government on counter-terrorism continues "on a regular basis"

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UK announces expulsion of Russian defense attache, new diplomatic visa restrictions

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Belarus, Russia conduct tactical nuke drills amid current situation — Lukashenko

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Russian paratroopers thwart attempt by Ukrainian troops to cross Dnieper — ministry

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