PARIS (AFX) - In an interview with Les Echos, Alstom CEO Patrick Kron said that the joint venture announced yesterday with Atomenergomash to develop nuclear power plants in Russia will generate 'hundreds of millions' of euros in sales in the future, supported by a guaranteed minimum level of orders.
He also said the joint venture will deliver their first equipment in four or five years, before which Alstom will already receive royalties for the transfer of technology for its Arabelle steam turbine and generator.
The deal is Alstom's first joint venture in nuclear power, but could be followed by a similar deal in India.
Patrick Kron said his group is in talks with Indian partner BHEL 'about an alliance covering conventional islands' (i.e. non-reactor parts) of nuclear plants, as in the new joint venture in Russia.
Alstom already has a technology sharing agreement with BHEL covering coal-fired stations, he added.
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