OREANDA-NEWS. September 23, 2010. EvroSibEnergo, the largest private energy company in Russia, TBEA, the leading Chinese electric machinery manufacturer and Radian Group of Companies (TBEA dealer in Russia) signed a memorandum on strategic cooperation. Evgeny Fedorov, CEO of JSC EvroSibEnergo, Yi Hsung, CEO of TBEA, and Valery Trufanov, CEO of Radian, signed the document.

The parties agreed to explore the opportunities of using the TBEA manufactured equipment for JSC EvroSibEnergo investment programs including modernization of JSC Irkutskenergo power stations, Krasnoyarskaya HPP and JSC IESK assets. Following the results of this work, in 2010-201,1 the Companies will sign the agreements identifying high-priority joint projects.

“Starting the cooperation with TBEA is an important step in the development of Russian-Chinese partnership in the power area. EvroSibEnergo is currently implementing an ambitious power stations modernization program aimed at increasing the security of the power supply for our customers and efficiency of our work. We are interested in using the cutting-edge power production, supply and transformation technologies driven by the strategic cooperation with TBEA”, Evgeny Fedorov, CEO of JSC EvroSibEnergo said.

“The agreement will strengthen the economic relations between Russia and China and will become a good foundation for the further development of our mutually beneficial cooperation”, CEO of TBEA Yi Hsung pointed out.