JSC FGC UES, Administration of Primorskiy Territory and Hyundai Heavy Industries signed Memorandum of Understanding on construction of electrical equipment plant

The Memorandum is aimed at scientific and technical cooperation and establishing energy efficient, innovation and clean production of electrical equipment within Primorsky Territory to be supplied to the Russian electric power industry facilities, creating new jobs, increasing taxable base of the region.
The Parties highlighted their interest in localization of Hyundai electrical equipment production within Primorskiy Territory and expressed their readiness to develop long-term cooperation, improve high-voltage electrical equipment production and implement innovative equipment on JSC FGC UES facilities.
In accordance with the Memorandum the Parties shall agree the location of Hyundai production facilities within Primorskiy Territory. JSC FGC UES shall provide technical requirements for purchased equipment to the Korean party and assist in certification of this equipment. In its turn Hyundai Heavy Industries shall inform JSC FGC UES specialists about the latest developments in the sphere of electrical equipment production.
Working group was established comprised of representatives of JSC FGC UES, Administration of Primorskiy Territory and Hyundai Heavy Industries to coordinate activities aimed at realization of the Memorandum.