Yesterday, Shanghai Electric and Siemens signed a new round of strategic cooperation framework agreement at Shanghai Electric Lingang Heavy Equipment Base. According to the framework agreement, Shanghai Steam Turbine Co., Ltd., Shanghai Turbine Generator Company, Shanghai, which were jointly established by the two parties in the 1990s, Shanghai Three companies, including Power Equipment Corporation, will merge and newly establish Shanghai Electric Power Station Equipment Company.
It is reported that the new company has a registered capital of 240 million US dollars and will engage in all the operations of the original three joint ventures, and further expand the overall synergy of power generation equipment and supporting businesses. This cooperation will enhance the technical level and complete set of capabilities of the Shanghai-based power station equipment.
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