Alexander Ignatiuk, analyst of Investment Modeling Department of Energocapital IC

– Merger of innovative, technological and material capacities of Rosatom and Siemens will help their joint venture to gain leading positions in the world

The working group set up for making necessary preparations for large-scale strategic cooperation between Rosatom State Nuclear Energy Corporation and Siemens has started its work today, Feb 4, 2009. The agreement for establishing such cooperation was reached during an enlarged meeting of the Board of Siemens in Moscow, Feb 3, 2009.

The merger of the innovative, technological and material capacities of Rosatom and Siemens will help their joint venture to gain leading positions on the world markets of production of electricity, construction and maintenance of nuclear reactors and fabrication of fuel.

The key reason for the German leadership’s curtsy to Russia is that in the Areva NP project Siemens is a junior partner (just lime in EADS). As one of Europe’s biggest industrial companies Siemens cannot be happy at such a role. In the last years Germany has been actively strengthening its political and economic partnership with Russia.