Constructed with an investment of RUB5.5bn ($155.8m), the plant is equipped with the most advanced high-technology equipment, and will manufacture power transformers using advanced foreign technologies in Russia.

The product range includes 110-750kV power transformers and autotransformers, including three-phase ones, with capacities exceeding 25 MVA, and 500-750kV shunt reactors.

With rated capacity of over 10,000 ?V? per year, the plant also has a fully automated testing center, which will enable the companies to carry out full-scale conventional and final acceptance tests of transformers having voltage class of up to 750kV and beyond.

Primary consumers of the joint venture products include FGC UES OJSC and Russian Grids, and will be joined by RusHydro and the Russian Federation national nuclear corporation (Rosatom), power generating companies and power grid operating companies of the Commonwealth of Independent States (CIS) and Baltic countries.

Power Machines hold a 50.01% stake in the joint venture, while the remaining 49.99% of the shares are held by Toshiba.