Germany's Siemens AG said Monday that its Siemens Power Generation unit won a contract from Russia's OAO Siloviye Mashiny, or Power Machines, to supply power plant components for the Urengoiskaya and Kirishi projects in Russia.
The total value of the orders for Siemens is about euro90 million (US$131.75 million).
"In the course of the last 12 months there has been an enormous dynamic upswing in demand in the Russian power plant market," said Michael Suess, a member of the board of Siemens PG.
Power Machines is expected to be a beneficiary of a surge in orders from Russia's electricity sector as it undergoes sweeping restructuring and …
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