JSC ROSSETI and ROSTEC State Corporation establish joint venture

JSC ROSSETI and ROSTEC State Corporation establish joint venture 30.03.2015

JSC ROSSETI and Rostec State Corporation create a joint venture - Technical Customer Center. Creation of a joint venture will allow to optimize the process of implementation of investment programmes of Rosseti Group of Companies and Rostec State Corporation through the centralization of the customer's functions, implementation of a unified technical policy and import substitution programme in the power grids sector.

"The task of the Technical Customer Center is to improve the efficiency of JSC Rosseti's subsidiaries. Core staff is not to be directly involved in the implementation of investment projects, which will enable to focus on operation, implementation of modernization and repair programmes by its own. The Centre's activities will allow to unify technical solutions, to reduce design costs, to form a long-term order for domestic producers and to implement the programme of import substitution, and as a result - to reduce specific investment costs significantly," said Oleg Budargin, Director General of JSC Rosseti.

The project implementation will bring significant economic effect. In particular, we are talking about the reduction of the use of imported equipment, as well as the reduction of the cost of infrastructure through import substitution and localization deepening. Furthermore, the establishment of the Centre will provide new jobs.

"The development of cooperation with JSC ROSSETI will provide Russian enterprises with new orders," says the Director General of Rostec State Corporation Sergey Chemezov. "It is necessary to recreate the industry of electrical and technical equipment manufacturing, increase production volumes, develop new products and bring them to the market. All this will ensure the modernization of the Russian power grids sector."

JSC ROSSETI and Rostec State Corporation will be authorized for the formation, approval, correction and financing of investment programmes, as well as assignment of orders for construction and acceptance into operation of constructed objects.

Technical Customer Centre will be responsible for the selection (on a competitive basis) of contractors for design, supply of materials, construction and installation works, registration of land relations and initial permits, organization and support of working and design documents elaboration.

In addition, the Centre will control the production and supply of basic electrical and technical equipment, ensure the organization of construction and installation works, accept work deliverables and prepare the objects for their commissioning.

Further costs optimization is to be achieved due to formation of a centralized demand and to the use of long-term contracts. The reduction of the overall cost of objects construction is expected through the typing of technical solutions and the implementation of unified technical policies.

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