OREANDA-NEWS“Power Machines” don't plan to withdraw from the joint venture with Siemens yet, Siemens Gas Turbine Technologies, said Timur Lipatov, general director of the Russian company, in an interview with the Russian media. According to him, the issue of withdrawal from the Silmash joint venture will have to be considered if the company's actions to create its own high-capacity gas turbine contradict the terms of the shareholder agreement. “While not contradict. We aren't in a hurry, and so far we have no concrete plans to leave the joint venture”, said Lipatov.

In 2018, the owner of Power Machines, Alexey Mordashov, said that the company would most likely have to leave the joint venture, since Siemens Gas Turbine Technologies doesn't give Power Machines “many advantages and many problems” (quoted by Reuters ). The company planned to determine its exit from the joint venture before the end of 2018, Lipatov told Interfax last fall.

Power Machines and Siemens created a joint venture Interturbo in 1992, and after 20 years renamed it Siemens Gas Turbine Technology. At first, the joint venture was engaged in assembling gas turbines with a capacity of 160 MW under the license of Siemens at the Leningrad Metal Plant, and since 2015 - at a new production facility in the village of Gorelovo. Power Machines is a minority partner of Siemens. The German company has 65% in the joint venture, the Russian one - 35%.

But in 2018, relations deteriorated sharply: the Rostec’s “daughter” supplied the turbines manufactured by the joint venture to the Crimea, thus violating the sanctions (in Russia, high-capacity gas turbines aren't produced yet). In January, the US Treasury Department imposed sanctions on Power Machines, which caused outrage Mordashov. After that, Mordashov asked the government to instruct Silmash to create a domestic analogue of Siemens gas turbines.