Silovye Mashiny, Toshiba to build power transformer plant.

MOSCOW, September 20 (Itar-Tass) - Russia's Silovye Mashiny and
Japan's Toshiba have signed an agreement to set up a joint venture on the
construction of a power transformer plant on the territory of Russia.
The agreement was signed by the companies' heads within the framework
of the second meeting of the Russian-Japanese consultative council on
modernization of Russia's economy.
Silovye Mashiny will own a 50.01 percent stake in the joint venture,
while Toshiba - a 49.99 percent stake.
The investments into the plant's construction will exceed 5 billion
rubles.
Director-general of Silovye Mashiny, Igor Kostin, said the plant will
be built on the premises of the Russian enterprise in St. Petersburg and
will be financed through own funds and borrowings.