Alexey Mordashov's Power Machines to Receive Three Billion Rubles for Turbine Development

Russian President Vladimir Putin has ordered the allocation of three billion rubles in 2019 for the development of gas turbines and the construction of a power plant by billionaire Alexei Mordashov's Power Machines company. This was reported on the company's website.

The decision was made at a meeting of the commission on issues of strategy for the development of the fuel and energy complex, which was held in Kemerovo on August 27.

• Power Machines fell under US sanctions in January due to the supply of gas turbines to Crimea, produced by a joint venture between the company and the Siemens concern. According to RBC, in May, Alexey Mordashov asked the state for 7.5 billion rubles (out of 15) for a project to localize gas turbines. He also asked the government for preferences due to the introduction of sanctions.