Russian hydro power company JSC RusHydro, a subsidiary of RusHydro has signed a strategic cooperation agreement with the administrative government of the city of Saratov.
The agreement aims to arrange cooperation in the field of hydro-power engineering and machine building, as well as to develop state of the art production facility in Saratov.
RusHydro in partnership with Voith Hydro plan to perform an overall modernization of vertical Kaplan hydro power turbines of the Saratovskaya HPP within 10 years.
Furthermore, the firms together with the Administration of Saratov will form a joint venture in the city to produce equipment for hydro power plants with investment of up to €40m ($53m) and sales of €500m ($669m) annually.
Voith Hydro will be the third participant of the project.