You're reading: Turboatom signs largest contract in company’s history worth over $100 million

KHARKIV – Kharkiv-based opened joint-stock company Turboatom has signed a contract to produce and supply a turbine with the capacity of 1,100 megawatts with a condenser for reactor four of Rostov nuclear power plant (NPP, Russia), which has become the largest contract in the company’s history, Turboatom Director General Viktor Subotin told the press on Wednesday.

He said that the sum of the contract exceeds $100 million. The director did not offer the exact figure, referring to a confidentiality agreement.

“The tender [to supply equipment] was held in the middle of November. Its results were announced last week. In public we could announce our victory only after a meeting of shareholders which was to give us powers to announce this,” Subotin said.

Under the contract the condenser is to be supplied in July 2014 and the turbine in March 2015. Equipment will be made under the agreed schedule in 2012-2014 and will be shipped in separate knots in 2014-2015.

The total weight of equipment will reach some 5,000 tonnes. Reactor four of Rostov NPP will be launched in 2017.

Subotin also said that the realization of the contract will require serious upgrade of the plant.

It is expected that Shenk equipment for rotor balancing (the approximate minimum cost is around EUR 5 million) and the machine-tool fleet (around EUR 5 million) will be upgraded.

In addition, he said that at present the plant jointly with Paton Electric Welding Institute is testing laser welding of rotors.

“No turbine building firm carries out such works,” he said.

He also said that Turboatom plans to participate in tenders to supply turbines for Nizhny Novgorod, Kursk and Baltic NPPs.

Subotin said that Nizhny Novgorod Atomenergoproekt engineering company acts as a prime contractor of the project on the construction of Rostov NPP and Rosenergoatom Concern acts as a customer of the project.

Turboatom is the sole producer of turbine equipment in Ukraine for hydro, heat and nuclear electricity stations.

Turboatom specializes in manufacturing turbines for thermal and nuclear power plants, hydraulic turbines for hydroelectric power plants and pumped storage power plants, gas turbines for thermal power plants, steam and gas equipment, and other power equipment.

The Ukrainian state owns 75% in Turboatom, while Cyprus-based Linfot Ltd. holds over 15.3%.