OREANDA-NEWS. November 13, 2008. The structure of Atomenergoprom OJSC, Transport-Technological Machine Building CJSC (TTM, 100% of the shares belong to Atomenergomash OJSC) completed the deal for purchase of controlling stage in "Ganz Energetika Kft." (Hungary).

Now, TTM owns 51% stake in "Ganz Energetika Kft." All the settlements will be completed by Nov 21 2008.

Now Atomenergomash will have an enterprise that will be able to design, manufacture and supply reactor refueling equipment and pumps for Russian projects in an amount sufficient for meeting the needs of the federal target program for the development of the nuclear power industry of Russia in 2007–2010 and –2015. The JV will have large production areas, unique equipment and highly qualified personnel.

This contract is part of Atomenergoprom’s policy to consolidate assets in the field of production of equipment for nuclear power plants so as to most effectively implement the program to build a big number of new nuclear reactors in Russia and to promote Russian nuclear technologies on the foreign market.

The purchase of this asset will help to fully meet the sector’s demand for refueling equipment.

According to the JV’s business plan, its annual income will make 20mln EUR. This is enough for the project to pay off.