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Russia supports GE initiative to set up JVC in energy, health care

The Russian government supports the U.S. company General Electric (GE) in an initiative to set up a joint venture with Russian companies in the energy sector and the health care system, Russian Prime Minister Vladimir Putin said at a meeting with GE Chairman and CEO Jeffrey Immelt here on last Friday.

“We will certainly support at the governmental level all these initiatives, and we are interested not only to buy your equipment, but also to launch production,” Putin said.

“I am very glad that your are ready to shift to the new quality of partnership, I refer to an opportunity to set up a joint venture in the energy industry and the production of medical equipment,” the Russian premier said, emphasizing that these two industries are of great interest for Russia.

“We have major plans in the energy sector, just in the scope of your operation – upgrading, reconstruction and construction of new generating capacities,” Putin said, adding, “As for the medical equipment, we will launch a major program for the modernization of the health care system and will make quite large allocations to this end, therefore the production of diagnostic and other types of equipment is particularly important for us.”

For his part, the GE CEO expressed confidence that Russian companies and General Electric would be able to manufacture high-tech products in a quite short period of time for the Russian market and for the exports.

“Russia established relations with the company almost 100 years ago,” Putin recalled. “We know you from the best side, your company gained a high authority on the Russian market in the aircraft building, the railway technologies and medicine,” he added.

Rostechnologii chief Sergei Chemezov and Inter RAO UES acting chairman Boris Kovalchuk were also participating in the meeting from Russia.


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