MOSCOW, December 18. /TASS/. Siemens signed a contract with Russia’s Taif Group on construction of a 495 MW combined cycle power plant (CCPP) for the Nizhnekamskneftekhim project, the German company told TASS on Monday.

"Siemens will supply two SGT5-2000E gas turbines, one SST-600 steam turbine and power distribution equipment. The contract price will amount to 380 mln euros, including a long-term service agreement for 13 years that will be signed further on. The new power installation is scheduled to be launched by May 2021," Siemens said.

Siemens will act as an EPC contractor in cooperation with Turkey’s construction company Enka acting as a subcontractor in the contract providing for turnkey construction of the power plant.

The main specific feature of the power plant is the possibility of working on syngas, a byproduct of petrochemicals production, leading to huge savings on customer’s operating expenses.

The need to build a new power plant is conditioned by growing power consumption in conditions of production expansion, commissioning of new refining units, and growing electricity and capacity acquisition costs.