OREANDA-NEWS. August 02, 2013. Two new machines for processing motor housings have been launched at the State Enterprise Plant "Electrovazhmash" within the modernization of its own production facilities.

The company has directed over UAH 80 million in the first half of 2013to update capital funds. It is expected that the total investment by the results of this year surpass figures of 2012 in three times.

"Plant "Electrovazhmash" is an example of successful investment in domestic production. Upgrading of capital funds, expanding lineup of new products and improving its quality allow the company to take a leading role in the field of power engineering of Ukraine," Minister of Industrial Policy of Ukraine Mykhailo Korolenko said.

As of today over 80% of Ukrainian power stations’ capacities are equipped with equipment produced at "Electrovazhmash". "The company is working on long-term contracts not only with domestic power plants and hydropower, but also with major energy companies in Russia, Kazakhstan, India and other countries," Mykhailo Korolenko said.